With the end of the financial year a little over a week away it is worthwhile just confirming some of the usual claims that can be made and some that may not be as common.
Meal Expenses – per previous Blogs
Car Expenses – to and from work are claimable providing you are carrying large or bulky equipment that is required for work.
Protective Clothing – It must be used to protect the person or their conventional clothing, ie steel cap boots, sunscreen, high vis gear etc, safety gloves, helmets etc.
Compulsory Uniform – The uniform must be unique and particular to an organisation ie it must have the company logo – ie work jeans are not claimable.
Laundry expenses – reasonable claims of $ 150-00 per year without receipts are claimable.
Toll fees – paid while travelling for work are claimable – Fines such as speeding are not claimable.
Stationary (diaries, log books etc) are claimable.
Tax Agent Fees - costs of paying an accountant to prepare your tax return are deductible.
Telephone Costs – the work related calls are tax deductible, it is always a good idea to keep a log to confirm the business percentage.
Union and professional association fees are claimable.
Superannuation contributions: Claims allowed in respect of employees. This is new for this financial year – if you make a contribution to superannuation from your net wages you can claim a tax deduction for the 2018 financial year and going forward.
Tools that are less than $ 300-00 can be claimed instantly, tools over $ 300-00 will need to be depreciated over a few years.
Donations over $ 2-00 to “deductible gift recipient” (DGR).