Deductions you can claim
When gathering information to enable us to prepare your tax return, note some of the deductions below that you might be able to can claim. Most are costs you occur to earn your income.
To claim a deduction for a work-related expense:
- You must have personally spent the money and not been reimbursed by your employer
- The expense must be directly related to earning your income
- Be able to prove or substantiate the expense
If you incurred an expense that was both work-related and private in nature, you can claim a deduction only for the work-related portion of the expense.
If you incurred an expense for an asset in previous years, you may be able to claim a deduction for the decline in value of the depreciating asset.
If you incurred an expense for services paid in advance, it will need to be determined what part of the expense is deductible in 2020–21.
Work-related expense items may include:
- Vehicle and travel expenses
- Clothing, laundry and dry-cleaning expenses
- Working from home expenses
- Self-education expenses
Claims can be made in the year in which the expense occurred.