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Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
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Re: Deductions for Newspaper subscriptions - Used for playing the Stock Market

Newbie

Views 6399

Replies 3

Hi Team, 

 

Can we claim on costs of Newspaper Subscriptions, used as a tool and source of information to invest in the stock Market. 

 

Kind Regards,

Kartik 

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Certified Response

Community Moderator

Replies 0

Hi @Kartik

 

Thanks for the post.

 

Subscriptions to technical, scientific, trade, business or professional journals, information services, newspapers and magazines are deductible, provided the subscriptions relate to the production of your assessable income.

 

For more information about personal tax deductions, have a look at the books, periodicals and digital information expenses page on our website. You can also read about claiming a tax deduction for other operating expenses for businesses.

 

Hope this helps.

 

Thanks,

 

ChrisR

3 REPLIES 3

Devotee

Replies 1

Do you only by the newspaper for that purpose? Or do you use the paper for personal use?

Newbie

Replies 0

Use the newspaper as a source of information for stock purpose only [ Financial Times ] . Not for personal use. 

Most helpful response

ATO Certified Response

Community Moderator

Replies 0

Hi @Kartik

 

Thanks for the post.

 

Subscriptions to technical, scientific, trade, business or professional journals, information services, newspapers and magazines are deductible, provided the subscriptions relate to the production of your assessable income.

 

For more information about personal tax deductions, have a look at the books, periodicals and digital information expenses page on our website. You can also read about claiming a tax deduction for other operating expenses for businesses.

 

Hope this helps.

 

Thanks,

 

ChrisR