When completing your tax return, you’re entitled to claim deductions or expenses but these must be directly related to earning your income.
- Vehicle and travel expenses – including travel between work and home.
- Work related Car usage
- Clothing, laundry and dry-cleaning expenses
- Education Expenses – Self-education expenses
- Home office expenses
- Interest, dividend and other investment income deductions
- Tools, equipment and other equipment
- Other deductions and some deductions for specific industries and occupations
- Personal Superannuation contributions
- Rental or Investment property deductions
To claim a work-related deduction – your must check 4 main rules:
- you must have spent the money yourself and
- you were not reimbursed by your employer
- The Expenses must be directly related to earning your income
- You must have a record to prove your expenses so you must have diary enteries, invoices, bank statements.
Apportionment of expenses – If the expense was for both work and private purposes, you can only claim a deduction for the work-related portion. Work expenses reimbursed to you by your employer are not deductible in your personal income tax return. The ATO can seek information from your employer if it suspects you have claimed as a deduction an expense for which you have already been reimbursed. To get a Tax Refund/Payable estimate please contact us and we will email you your estimated tax refund or tax payable. .