- April 1, 2014
- Posted by: Michael Ouzounis
- Categories: ATO, Income Tax
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It’s nearly that time of the year again and I thought a refresher with what deductions you are entitled to claim was in order.
When completing your tax return, you’re entitled to claim deductions for some expenses that are directly related to earning your income.
The expense must not be a private, domestic or capital expense. If the expense was both work-related and private or domestic, you can only claim a deduction for the work-related portion.
Click here for a checklist of what deductions are allowable and how they are defined by the ATO.
Also click here for a link to deductions for specific occupations from the ATO.
For any questions contact us today at Moss Financial Solutions.