Can I claim the tools and equipment expenses that I paid for my job?

By | September 6th, 2016|

You are able to claim expenditure incurred in replacing, insuring and repairing tools of trade that you use for earning your income. If the cost of any item is more than $300 then it will have to be depreciated (i.e. claimed over its effective life). The amount you can claim will depend on what records [...]

What self-education expenses can I claim?

By | August 11th, 2016|

You may be able to claim a deduction for self-education expenses if your study is work-related or if you receive a taxable bonded scholarship. In some circumstances you have to reduce the amount of your claim by $250. However, you can’t claim the repayments of Higher Education Loan Program (HELP) loans (although the fees paid [...]

I was unemployed during the year. Can I claim money I spent looking for a job as a tax deduction?

By | August 8th, 2016|

The tax office ruled that deductions for expenses incurred job seeking are not deductible as there is no income to offset them against.

I donate $1000 when I attend fundraising dinners, can I claim deduction on my tax return?

By | August 5th, 2016|

You can only claim a tax deduction for gifts or donations to organisations that have the status of deductible gift recipients (DGRs). The amount you can claim depends on the type of gift. For gifts of money, it is the amount of the gift but it must be $2 or more. A tax deduction for [...]

I received an travel allowance from my group certificate, Can I claim a deduction for that on my tax return?

By | August 4th, 2016|

A deduction will only be allowed if you have actually incurred a work related expense and have the necessary documentation. Some awards allow for a payment of an allowance even though an expense is not necessarily incurred by the employee. If a deduction can be claimed it cannot be for more than the expense that [...]

Each day from home to work, I travel 150km return, can I claim any travel expenses on my tax return?

By | August 1st, 2016|

Trips between home and work are generally considered private travel, which means it is not deductible. However, you can claim deductions in some circumstances, such as the cost of travelling between two separate workplaces, or from your normal workplace to an alternative workplace, or if you need to carry bulky tools or equipment that you [...]

I need to wear specific clothing for work, what can I claim on my tax return?

By | July 25th, 2016|

You can claim for clothing that is specific to your occupation, is not everyday in nature and allows the public to easily recognise your occupation - such as the checked pants a chef wears. You can't claim the cost of purchasing or cleaning clothes you bought to wear for work that are not specific to [...]

Am I entitled to claim $300 for work related expenses as this does not have to be substantiated?

By | July 22nd, 2016|

You cannot just claim $300. You must actually incur any expense before it is claimable. Whilst you may not need receipts for expenditure up to $300 you must have spent the money and it must be relevant to your employment.

When can I receive the PAYG payment summaries from my employers?

By | July 20th, 2016|

Generally, payers are required to supply a payment summary within 14 days of the end of the financial year – i.e. 14 July. If an employee ceases employment part-way through the year, one must be supplied within 14 days of receiving a written request from the former employee and the request must not be made [...]

Do I have to declare the inherited money on my individual tax return?

By | July 19th, 2016|

The inheritance is not taxable unless you are advised by the executor that a part is taxable. However, if you invest the income from the estate then any earnings will be taxable.