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Re: I have joined a networklng club and would like to know if the cost is tax deductible?

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I work in IT as a Network Manager and have recently joined a networking group - at a cost of $3.5k PA. Is this an expense I can use as a tax deduction? I have a receipt and a record of payment. It has been paid in FY20 but is actually for FY21 events. I dont want to do the wrong thing so Im looking for some guidence.

 

Thanks Alan

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ATO Community Support

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Hi @hodgsala

 

Any expense not reimbursed that assists in making your income will form a deduction. Union and professional association fees are one example. Expenses should always be claimed in the financial year paid. So if you missed it previously then an amendment is an easy way to correct the oversight.

1 REPLY 1

Most helpful response

ATO Community Support

Replies 0

Hi @hodgsala

 

Any expense not reimbursed that assists in making your income will form a deduction. Union and professional association fees are one example. Expenses should always be claimed in the financial year paid. So if you missed it previously then an amendment is an easy way to correct the oversight.