Are You Claiming Work Related Expenses This Year?

hand giving moneyIt’s that time of year where you start gathering all of those work related receipts you “filed” away for safe keeping. Once you have your PAYG summary and your receipts are in order, you are good to come in and see us to get your tax done. So, what will the ATO be paying extra attention to this year?

Where you intend to claim work related expenses, you must satisfy the following:

  • you must have spent the money yourself and not claimed reimbursement from your employer
  • the claim must be related to your job
  • you must have a record to prove it

This year, the ATO will be paying extra attention to clients whose claims are higher than expected, in particular to:

  • car expense claims including claims for transporting bulky tools
  • travel
  • internet and mobile phone
  • self-education

If an expense is for both work and private purposes, you can only claim a deduction on the work-related amount. If you receive an allowance from your employer it does not automatically entitle you to claim a deduction. You must still show that you have spent the money and that it was related to your job.

Not sure if an expense can be claimed? Don’t worry, just bring everything in and we will sort it out for you. Give us a call today.