ATO CRACKDOWN

Claiming a deduction for ‘Other work-related expenses’ this year?

This year, the ATO will be paying close attention to what people are claiming as ‘other’ deductions. These deductions are for expenses other than car, travel, clothing or self-education and may include home office, union fees, mobile phone and internet, overtime meals and tools & equipment.

Even though tax time is months away, you might be incurring these expenses now, so it’s important you have the information you need to get your claims right.

Make sure you can show us that:

  • you spent the money yourself and weren’t reimbursed
  • the expense was directly related to earning your income
  • you have a record to prove it.

If your expenses are for both work and private use, you can only claim a deduction for the work-related portion.

 

LEARN MORE…

2018-02-21T09:26:40+00:00February 21st, 2018|Categories: Business, General Interest, Politics|Tags: , , , , , , |