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ATO warning on deductions

July 2017


The ATO has released a guide called Don't be a dummy with your deductions which is intended to serve as a warning to taxpayers as the 2017 income year comes to an end.

The ATO has released a guide called Don't be a dummy with your deductions which is intended to serve as a warning to individual taxpayers as the 2017 income year comes to an end.

The guide sets out 11 items that are often claimed but probably shouldn't be as follows:

  • Travel between home and work;
  • Car expenses for transporting bulky tools and equipment unless you were required to work away from home overnight;
  • Salary packaged car expenses;
  • Meal expenses  for travel, unless you were required to work away from home overnight
  • Travel that includes a private component;
  • Everyday clothing;
  • a flat rate for cleaning eligible work clothes without being able to show how the cost is calculated;
  • Self-education costs without a direct connection to the current employment;
  • Private use of phone and internet expenses; and
  • Immediate write of tools and equipment that cost more than $300

For more information, please contact us on 02 9957 4033.

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Disclaimer

This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.

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