For individual tax payers the basic rules are:
- You must have incurred the expense within the relevant tax year
- The expense must be incurred in the course of earning assessable income and not be private such as travel from work to home and back.
- You cannot claim expenses that have been, or will be, reimbursed by your employer.
- You must substantiate your claims with invoices and receipts if your deductions are greater than $300. You must show how you calculated your deductions if they are less than $300 but you do not need receipts.
Expenses that may be deductable in your return include
- Work use of your private vehicle.
- Work related uniform purchase and care. To be deductable uniform must have a company logo or print on the item of clothing or be a safety item
- Purchase and care of tools of trade
- Union Fees
- Tax deductable donations. Many people would have donated to Victorian Bushfire and Queensland Flood appeals in the last tax year.
- Tax preparation costs including the travel to and from your tax agent.
Specific deductions that you are eligible to claim often depend on your occupation. The ATO has published tax deduction guides for specific occupations such as Nurses, Teachers, Police Officers and many more. Click here to find out more
The above is a general guide and does not constitute specific tax advice. Please call me on 02 9548 2828 to discuss specific claims that you can claim in your tax return.
You can also contact us via the website.
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