FIFO Tax Benefits: How Working FIFO in Mining Can Supercharge Your Take-Home Pay
- Jayden Katis
- Jun 25
- 2 min read
Are you considering a career in Australia’s mining industry? You’ve probably heard about the high wages and the adventurous lifestyle that come with FIFO (Fly-In Fly-Out) work. But did you know that FIFO roles also unlock unique tax benefits that can put thousands of extra dollars in your pocket every year?
At ProspectX, we’re all about helping you PICK YOUR PATHWAY and unlock the full financial freedom that comes with a mining career. Here’s what you need to know about the tax advantages of FIFO work—and how you can make the most of them.
What Makes FIFO Tax Benefits So Powerful?
FIFO workers are often required to travel and live away from home for extended periods. Because of this, the Australian Tax Office (ATO) allows FIFO workers to claim deductions on a range of work-related expenses that most traditional employees can’t. These deductions can significantly reduce your taxable income, meaning you keep more of what you earn.
Key Tax Deductions FIFO Workers Can Claim
Travel Expenses
Flights to and from your worksite (if not covered by your employer)
Transport to and from the airport
Parking fees at the airport
Accommodation & Meals
Accommodation costs while working away (when not provided by your employer)
Meal expenses during your roster
Incidentals during work trips
Work-Related Equipment
Protective clothing and safety gear
Tools and equipment needed for your role
Laundry and maintenance for work clothes
Communication Costs
Phone calls home during your swing
Internet expenses for staying connected with family
FIFO vs. Traditional Work: A Real-World Comparison
Let’s break it down with a simple example:
Traditional Worker | FIFO Worker | |
Annual Salary | $80,000 | $120,000 |
Typical Deductions | $2,000 | $15,000 (FIFO) |
Taxable Income | $78,000 | $105,000 |
Tax Payable* | ~$16,067 | ~$24,967 |
Net Take Home | ~$63,933 | ~$95,033 |
*Figures are estimates only. Your exact tax outcome may vary.
That’s over $30,000 more in your pocket each year!
Imagine what you could do with that extra income—travel, invest, or simply enjoy more freedom and security.
Tips to Maximise Your FIFO Tax Benefits
Keep Every Receipt: Flights, meals, equipment—track every eligible expense.
Know What’s Provided: Only claim what your employer doesn’t cover.
Get Professional Advice: Use a tax agent who understands FIFO rules and mining industry specifics.
Stay Organised: Use apps or folders to keep your records tidy all year round.
How ProspectX Helps You WIN
At ProspectX, we do more than just help you find a job. We guide you step-by-step to make sure you’re set up for financial success:
We match you with the highest-earning FIFO roles with the best tax perks.
We walk you through every qualification and paperwork step.
We connect you with employers who offer the most competitive packages.
We provide ongoing support—before, during, and after job placement.
Ready to Unlock Your Financial Freedom?
Don’t just dream about a better future—make it happen. Book your FREE consultation today (limited time only) and let ProspectX show you how to:
PICK YOUR PATHWAY
WORK FIFO, PLAY HARD
Secure your future in Australia’s booming mining sector
Disclaimer: This article provides general information only and does not constitute personal tax advice. For advice tailored to your situation, consult a registered tax agent.
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