Here are our Top Claimable Work Related Expenses! Note – every individual circumstance is different. Please contact us for advice! Call 07 3245 1466 or email [email protected] to make an appointment with your friendly local accountants at TBC.
Travel Expenses
You may be able to claim a deduction for work-related car expenses if you use your own car in the course of performing your job as an employee, however you must meet a certain criteria. Below are some examples of work related expenses you may be able to claim.
o carry bulky tools or equipment
o attend conferences or meetings
o deliver items or collect supplies
o travel between two separate places of employment (for example, when you have a second job)
o travel from your normal workplace to an alternative workplace and back to your normal workplace or directly home
o travel from your home to an alternative workplace and then to your normal workplace or directly home (for example, if you travel to a client’s premises)
o perform itinerant work.
If you receive an allowance from your employer for car expenses, it is assessable income and the allowance must be included on your tax return. The amount of the allowance will usually be shown on your payment summary. There are specific record-keeping requirements for travel expenses, depending on whether your travel allowance is shown on your payment summary, whether your travel was domestic or overseas, the length of your travel and your occupation. Your tax agent will be able to advise you of your entitlements.
Clothing, laundry and dry-cleaning expenses
You may be able to claim a deduction for the cost of buying and cleaning occupation-specific clothing, protective clothing and unique, distinctive uniforms. To make a deduction you may need to have written evidence that you purchased the clothing and diary records or written evidence of your cleaning costs. If you received an allowance from your employer for clothing, uniforms, laundry or dry-cleaning, make sure you show the amount of the allowance on your tax return.
Tools and equipment and other assets
If you buy tools, equipment or other assets to help earn your income, you may be able to claim a deduction for some or all the cost. If the tools are used for both work and private purpose you will need to apportion the amount you claim.
Mobile phone, internet and home office expenses
You may be entitled to claim deductions for home expenses including a computer, phone or other electronic devices you are required to use for work purposes including mobile phone, as well as a deductions for running costs. Your tax agent will be able to advise you of your entitlements.
Self-education expenses
You may be able to claim a deduction for self-education expenses if your study is work related depending on your particular circumstance. Your tax agent will be able to advise you of your entitlements.
Seminars, conferences and digital information
You may be able to claim the cost of attending seminars, conferences or education workshops that are sufficiently connected to your work activities. This can include formal education courses provided by professional associations.
Cost of managing tax affairs
You may be able to claim a deduction for expenses you incur to complete your tax return.
Interest, dividend and other investment income deductions
You may be able to claim a deduction for expenses incurred in earning interest, dividend or other investment incomes.
Income protection insurance
You may be able to claim the cost of premiums you pay for insurance against the loss of your income. You must include any payment you receive under such a policy on your tax return.
Fees and subscriptions
You may be able to claim a deduction for union fees and subscriptions to associations.
Gifts and donations
You may be able to claim a tax deduction for gifts or donations to organisations that have the status of deductable gift recipients (DGR’s).
Every individual circumstance is different. Please contact us for advice! 07 3245 1466 or [email protected]
