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ITR: Possible Deductions

Australian taxpayers are entitled to deduct from their taxable income expense that they have incurred during a financial year that have been incurred in relation to them deriving assessable income. Some examples of these can include:

• Motor vehicle expenses
• Work related travel expenses
• Work related uniform and laundry expenses
• Self-Education expenses
• Other costs associated with your employment
• Low Value depreciation claims
• Costs associated with borrowing, and deriving investment income
• Gifts and donations to registered deductible gift recipients
• Costs associated with managing you taxation affairs
• Personal superannuation contributions

Please contact our office if you would like the opportunity to discuss with an advisor what type of deductions you may be entitled to claim.

ITR Info: