Are my work related expenses deductible?

Yes. Tax deductions include work-related expenses that you paid for while performing your job.

You can claim deductions for certain expenses directly related to earning your income. When you complete your return, subtract these deductions from your total income to arrive at your taxable income. The more deductions you are able to take, the lower your tax burden will be.

 

According to the ATO, there are a few basic rules you have to file when it comes to deductions.

  • You can only claim deductions in the same income year that you made the purchase.
  • Do not claim expenses that were reimbursed.
  • You can only claim expenses incurred in earning your assessable income – not private, domestic, or capital expenses.
  • Keep written records of all your deductions.

 

Tax deductions include work-related expenses that you paid for while performing your job. You had deductible expenses if you:

  • You are not reimbursed
  • The expenses are related to your income
  • Received a bill or invoice for a work-related expense that you were liable and paid for
  • Did not receive a bill for what you paid for
  • Received a bill or invoice for a work-related expense that you were liable and paid for
  • You did not receive a bill for a work-related expense but you paid it

Australian workers benefit from an extensive number of deductible work expenses. In all cases, it is advisable to hold to your receipts: an expense you thought unrelated to your work may well be deductible in Australia.

Deductions – Abalone Fisherman

Abalone Fisherman

An abalone fisherman uses specific fishing equipment (ie: nets, fishing rods, and traps) to catch and gather abalone fish from bodies of water for the purpose of eventual human consumption. This occupation also entails that the fisherman is using a boat or ship of some sort to gather these fish.

 

Work-Related Expenses
  • Measuring devices (to measure abalone before removing from reef)
  • Air “hookah” systems (above the surface)
  • Scuba Gear
  • Rope and catch bag
  • Sun protection (ie: sunglasses, sunscreen)

Work-related car expenses

You may be able to deduct the work-related car expenses that your employer allowance covers for car expenses. You must include assessable income on your tax return.

 

Motor Vehicles

ATO defines a car as “a motor vehicle designed to carry a load of less than one tonne and less than nine passengers.” Expenses for vehicles that do not qualify as a car, including motorcycles, fall under work-related travel expenses.

 

You can claim car expenses for your actual car and costs incurred with a borrowed car.

 

Most of the driving you do between home and work is not deductible. Otherwise, in certain circumstances, you may be able to claim this travel, if you are transporting bulk tools or equipment, for example, or driving between two separate places of employment.