Claimable Expenses

With the end of the financial year coming very soon I thought I would run through various expenses that are claimable as at 30 June 2018.

• Airport Lounge membership: Deductions to the extent for work related purposes

• Annual practising certificate: Applies to professional persons and other contractors who must pay an annual fee to practice in their chosen field.

• Briefcase: if used for work, the cost is fully deductible if $300-00 or less and used for work purposes

• Computer and Software is deductible if less than $ 300-00 if more than $ 300-00 it must be depreciated.

• Dry Cleaning – allowed if the cost of the clothing is also deductible

• First Aid Course: Provided it is directly related to employment or business activities.

• Gifts of $2-00 or more: if made to an approved “Deductible Gift Recipient” (DGR).

• Glasses and goggles: Protective only

• Income Continuance Insurance: Allowed if the proceeds are assessable

• Meals acquired when travelling overnight for work related purposes

• Professional Association Memberships

• Seminars including conference and training courses if sufficiently connected to work activities.

• Stationary (diaries, log books etc)

• Sun protection. Claims for sunglasses, hats and sunscreen allowed for taxpayers who work outside.

• Superannuation Contributions: Claims are allowed in respect of employees who make voluntary contributions up to the concessional amount limits. This is new for the 2018 year.

• Tax Agent Fees: claimable in the year they are incurred.

• Telephone: work related portion is claimable

• Union and professional Association Fees.