The Tax Office has indicated that they will be checking more carefully the 20010/11 tax year returns, and only allow appropriate work-related expenses. Contact us if you want to be sure you are claiming the correct tax deductions.

Remember, the expense must be incurred within the year you are claiming it, and must be incurred in gaining or producing assessable income. If the total of expense is greater than $300 then you will need to keep substantiation papers.

If the expense is private or capital in nature;or has been reimbursed by an employer then it cannot be claimed as a tax deduction.


As usual the Tax Office are targeting specific occupation areas. This year it is:

Earth-moving plant operators;

Flight attendants;

Carpenters and joiners, including apprentices and trainees; and

Real estate employees.

The Tax Office has released some guides that explain in detail what can and what cannot be claimed. Copies of these can be accessed here.


 


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