P. 07 5510 3799
southgate accountants logo

ATO targeting work-related expenses

Posted on Jul 20, 2017 by admin

The ATO is cracking down on individuals who are over-claiming work-related expenses.

The Tax Office is reminding individuals that they can only claim a work-related deduction if:

Expenses that cover both work and private purposes must be apportioned – you can only claim a deduction for the work-related portion.

Before claiming a deduction, individuals must consider if their employer would confirm the expenses were required to earn their income and that they were not reimbursed. Remember receiving an allowance from an employer does not necessarily entitle you to a deduction.

The ATO is also reminding people that they are not automatically entitled to claim standard deductions. Exceptions to keeping written evidence make things simpler, but they still need to have spent the money and be able to show how they worked out their claims.

free consultation

Sometimes the only way to understand a person’s business or financial situation is by meeting face-to-face. All new clients or people looking to speak with an accounting professional are offered an initial consultation with the first hour at no charge.

If you would like a confidential discussion simply call 07 5510 3799 to arrange a meeting

Contact us today.