Deductions you can claim

Deductions you can claim directly from the ATO

At Southern Business Solutions we aim to assist you lodge your tax return by claiming all legally available deductions. The following links and ensuing information have further details on ‘Deductions you can claim directly from the ATO’.

When completing your tax return, you’re entitled to claim deductions for some expenses, most of which are directly related to earning your income.

To claim a work-related deduction:

• you must have spent the money yourself and weren’t reimbursed
• it must be directly related to earning your income
• you must have a record to prove it.

If the expense was for both work and private purposes, you can only claim a deduction for the work-related portion.

Follow the links below for specific deductions you can claim:

• Vehicle and travel expenses – including travel between work and home
• Clothing, laundry and dry-cleaning expenses
• Gifts and donations
• Home office expenses
• Interest, dividend and other investment income deductions
• Self-education expenses
• Tools, equipment and other equipment
• Other deductions

 

See also:

• Records you need to keep
• Deductions for specific industries and occupations

 

If you would like to clarify any deductions further, please contact one of our accountants at Southern Business Solutions. 

Phone: 08 8186 8444

Email: [email protected]

https://sbssa.com.au/contacts/