Industry Specific Tax Deductions
End of Financial Year Processes
July 8, 2016
Overdue Tax Returns
July 8, 2016
As an accountant and a tax agent in Lyndhurst we are aware that along with the typical work related expenditures for example travelling, motor vehicle, telephone, uniforms, laundry, equipment etc; taxpayer’s across different occupations can claim several other tax deductions which are unique to their industry which may not be a suitable income tax deduction in other industries.
These costs are quite specific to different industries and will not apply evenly throughout the other industries.
Flight attendants can claim expenditures incurred for travel luggage for work use including travel bags, travel suitcases, over night bags, suit packs etc.
Other tax deduction permitted for flight attendants, which isn’t often a tax deduction, is for rehydrating moisturisers and rehydrating hair conditioners. Flight attendants can deal with harsh working conditions because of drying effects brought on by cabin pressure and all these items would be utilized to combats the effects.
Likewise people carrying out entire or a part of their job outdoors for example individuals in construction & building industry, landscapers, sporting coaches, etc can claim a tax deduction for protection from the sun including sun blocks, sunhats, shades etc.
Adult industry personnel is eligible to claim a tax deduction for stage make up, dancing classes should they be required to increase their dance skills, apparel they use particularly for income generating including lingerie and various other consumables.
Each and every industry personnel have unique expenses they may bear associated with their profession whether it’s a sole trader as well as employee and most often they don’t have knowledge of the particular kind of expense they are able to claim as a tax deduction.
Unsure of precisely what is considered tax deductible expenditure within your industry? You may be forking over much more income tax than what you need to be. Contact us today on 1300 300 106 for Tax Agent Lyndhurst services to find out what you can claim.
