Work Related Deductions

What can I claim? This is my most frequently asked question in doing Tax Returns. General Deductions don’t offer much fun for a Tax Agent, so it’s important to look at the Work related Deductions. These deductions can vary for different industries and different roles but must meet three key criteria.  1. You must have spent the money, and were not reimbursed for the expense.2. It must be related to your job.3. You must have a receipt or record of the expense.  If the expense has a portion for private use, you must apportion the deduction.  Once you have established you meet the three criteria the list of deductions can be endless. My biggest piece of advice for claiming work related deductions is what is reasonable to claim. Work related deductions might include (but not limited to);

  • Motor Vehicle Expenses
  • Home Office Expenses
  • Travel Expenses
  • Uniform Expenses
  • Self Education expenses
  • Tools, Equipment, and resources
  • Association & Union fees

In the coming weeks I will further explore deductions in detail to assist you make the most of your tax return in 2017. If I can help you with any Tax Issues, please get in touch today. I’d love to help because I love Tax!