Taxation Office are paying attention to people who are over-claiming work-related expenses.
Help your clients get their deductions right by advising them they need to satisfy the following rules:
Let them know:
they need to consider if their employer would confirm the expenses were required to earn their income and that they were not reimbursed
they are not automatically entitled to claim standard deductions. Exceptions to keeping written evidence makes things simpler (for example using the cents per kilometre method for car expenses), but they still need to have spent the money and be able to show how they worked out their claims.
receiving an allowance from their employer does not necessarily entitle them to a deduction.
they can keep track of their deductions using the myDeductions tool in the ATO app then email you their data for inclusion in their tax returns.
About Authors : Swan Partners is a progressive service provider dedicated in providing high quality tax consultancy, accountant in victoria park, bookkeeping service in perth, BAS lodgement service in perth and accounting services to individuals, sole-traders, partnerships, trusts, and companies.
Footnotes : Bookkeeper in Victoria Park | Bookkeeping Service in Perth | Accountant in Perth
Help your clients get their deductions right by advising them they need to satisfy the following rules:
- they must have spent the money and were not reimbursed
- it must be directly related to earning their income, and not of a private nature
- they must have a record to prove it.
they need to consider if their employer would confirm the expenses were required to earn their income and that they were not reimbursed
they are not automatically entitled to claim standard deductions. Exceptions to keeping written evidence makes things simpler (for example using the cents per kilometre method for car expenses), but they still need to have spent the money and be able to show how they worked out their claims.
receiving an allowance from their employer does not necessarily entitle them to a deduction.
they can keep track of their deductions using the myDeductions tool in the ATO app then email you their data for inclusion in their tax returns.
About Authors : Swan Partners is a progressive service provider dedicated in providing high quality tax consultancy, accountant in victoria park, bookkeeping service in perth, BAS lodgement service in perth and accounting services to individuals, sole-traders, partnerships, trusts, and companies.
Footnotes : Bookkeeper in Victoria Park | Bookkeeping Service in Perth | Accountant in Perth
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