Claim Deductions For Some Expenses
When applying for tax return, you’re allowed to claim deductions for some expenses, most of which are directly related to earning your income.
Here is a list of common work-related expenses that may be able to be claimed, depending on your situation.
- formal education courses provided by professional associations
- seminars
- journals, magazines, books
- conferences or education workshops
- tools and equipment
- union fees
- overtime meals
- protective items such as sunscreen and sunglasses
- computers and software
- telephone and home office expenses, and
- premiums on income protection insurance
To claim a work-related deduction:
- you must have spent the money yourself and weren’t reimbursed
- Must be related to your job
- For prove, person must have record of expenses.
If the cost was for both work and private purposes, you can only claim a deduction for the work-related section.
Income tax is paid on money you receive, such as salary and wages, Centrelink payments, investment income from rent, interest and dividends, and profits from selling shares or property.
You can cut the amount of tax you pay by claiming certain deductions that are directly connected to earning your profits.
When completing your tax return, you’re entitled to claim deductions for some expenses, most of which are straight related to earning your income.
To claim a work-related deduction:
- you must have spent the money yourself and weren’t reimbursed
- it must be connected to your job
- you must have a record to prove it (there are some limited exceptions)
If the expense was for both work and private purposes, you can only claim a deduction for the work-related portion.
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