Industry Specific Tax Deductions

As a Tax Agent Cranbourne often we get clients asking how to determine if a particular expense is a work related deduction. There are 2 basic rules to determine:

Did you incur the expense? If yes, then go to the next question.

Is the expense work related i.e. would you have had that expense if it wasn’t for your occupation? If the answer is Yes it is work related, then it can be claimed as a deduction.

Please ensure you keep a copy of records to substantiate the claims. These can include invoices or written evidence of your expenses, bank statements, diary record, itemised phone bills and details of equipment usage.

There are some industry specific work related deductions that can be claimed in your line of work such as:

• Sunglasses, sunscreen if you spend a lot of time outdoor while on work such As Builders, Day Care Workers and Landscapers etc.
• Cost of making up for cash/bar shortages in Hospitality Industry.
• Fitness expenses for eligible Defence Force Personnel, Trainers etc.
• Pay TV, New Subscriptions etc for Journalists.
• Barrister robes and wigs for Lawyers.
• Cookbooks for Chefs.

There might be expenses specific to your industry which you could be unaware of, Contact Cranbourne tax agents and Cranbourne tax accountants today on 1300 300 106 for our expert Tax Agent Cranbourne Services to maximise your tax refund.