Tax Deductions

Does your tax agent inform you about the work related deductions oyu can claim? Now that we are at the tail end of 2015 financial year, everybody is thinking about the taxes. It can be an overwhelming job for the majority of the tax payers to organise the information necessary for claiming work related tax deductions for their tax agent.

Here are some pointers that will assist you to get organized for claiming work related expenses on the income tax returns and maximising oyur tax refund:

• Work related motor vehicle expenditures, however travel from home to work place and vice versa cannot be claimed except in circumstances where you carry heavy equipment form home to work.
• Any travel expenses such as taxi, parking, tolls, fares, accommodation, meals etc.
• Uniform Expenses such as purchase of compulsory uniform, protective clothing, safety shoes etc and the laundry expenses as well. You might be entitled to claim expenses for buying sun protection such as sunscreen, hard hats etc if most of the work performed is outdoors.
• Telephone, internet etc for the work related use.
• Union fees or subscriptions
• Self Education expenses for a course directly related to your income producing activity.
• Home office expenses.
• Donations/Charity
• Expenses incurred for payments to the accountant for the prior year returns.
• Personal/Spouse Superannuation contributions.
• Any other expenses you might incur in relation to your income producing activity.

There are also lot of other industry specific deductions.

Want to find out more about what you can claim specific to your industry? Contact our Tax Agent Cranbourne, Sunny from Booksmart Accountants Cranbourne on 1300 300 106 to make an appointment and we will ensure that you get the maximum tax refund possible.