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What deductions can I claim?

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I am doing my tax return myself for the first time on myTax and I want to know what deductions I can claim? I haven’t done this before but want to get the best refund possible.

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Initiate

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They need to be work-related deductions. To claim deductions:

  • You must have spent the money yourself and not be reimbursed, 
  • It must relate to your job
  • You must have a record to prove it. 

I found my information at https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/ while I was preparing my tax return.

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Initiate

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Usually you can only claim deductions for expenses that relate directly to earning your income and you need to have kept receipts. What expenses have you incurred during the year???

Initiate

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Oh, I don’t know. I thought I could claim travelling to and from work, parking and stationery. I was told everyone could claim those things.

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Initiate

Replies 1

They need to be work-related deductions. To claim deductions:

  • You must have spent the money yourself and not be reimbursed, 
  • It must relate to your job
  • You must have a record to prove it. 

I found my information at https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/ while I was preparing my tax return.

Devotee Registered Tax Practitioner

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@Chelsee @Dan7485

 

My understanding is that a person using Mytax to lodge their Tax Return has until 31 October.

There may be penalties for failure to lodge on time.

An Agent has extensions up to 15 May.

 

As Dan mentions, the ATO has information on allowable deductions.

These are often industry specific.

 

As a general rule, travel from home to work and work to home is not an allowable deduction.

 

Duncan Smith

Business Advice + Tax 

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"You must be able to substantiate your claims for deductions with written evidence "

 

 

https://www.ato.gov.au/Individuals/ has a fantastic search function built in and I personally find almost all my answers can be found there. If you do find any answers to your questions there, feel free to pop back here and add in the anwser to help others who come to this site looking for help.

 

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**This is my personal view; I’m an ATO employee who chooses to help out here in my own time.**

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