Always remember that in order to claim a work-related deduction:
- you must have spent the money yourself, and weren't reimbursed for the expense
- it must directly relate to earning your income
- you must have a record to prove that it occurred in the given period
Here is a list of a few common expenses, that people forget to claim a deduction for:
- Mobile Phone Expenses
o Using phone to check emails and make work calls? You can claim the business use percentage of your mobile phone expense as a deduction.
- Work-related clothing
o You can claim a deduction if you are required to wear a uniform or specialised safety clothing at your workplace.
- Work-related self-education expenses
o If you have undertaken a course that is related to your job then you can include this as a deduction. The course must maintain or improve the skills or knowledge you require in your current work activities.
- Attending any work-related seminars, courses, conferences or workshops
- Work related subscriptions – E.g. LinkedIn Premium, Magazine Subscriptions, Journals
- Business or Professional associations – E.g. Australian
- Working from home?
o There are many home office expenses you can claim if you are working from home. If you work from home from a multi-purpose area such as the dining room then you can claim the following:
- Work-related phone and internet expenses
- Equipment depreciation for items over $300
- Full cost for items upto $300
o If you have a designated area at home for work purposes such as a study then you can all the expenses above as well as claiming home office running expenses which covers the cost of heating, cooling and lighting. There are two different methods of calculating your running expenses.
- Fixed rate of 45 cents per hour (popular method)
- Calculating your actual expenses
- Cost of managing your tax affairs
o If you used an accountant to prepare your tax return last year then the amount you paid is deductible in your current year return.
- You can claim a deduction for donations or gifts for an amount over $2 made to an Australian registered charity and to certain international aid agencies.