My Employer pays me travel allowances. Historically, this payment has been more than the ATO allowance (based on my income band) and so some of the allowance is taxable and tax is withheld by the employer.
The income band used by my employer to determine the taxable component of my travel allowances is derived from my salary from the previous FY.
During the year, I moved up an income band from the previous FY. At the higher income band, the allowance received is no longer higher than the ATO allowance.
As I am now in this higher income band, am I able to claim the taxed component of the employer paid allowance as a deduction?
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146 views3 replies
3 replies
146 views
3 replies