Planning to claim work-related expenses this year?
Remember, to claim a deduction for any work expense:
- you must have spent the money yourself and you weren’t reimbursed
- the expense must directly relate to earning your income, and
- you must have records.
In most cases, your records need to include written evidence from a supplier – like a receipt – that shows the cost, name of the supplier, date it was purchased, nature of the expense, and date the document was produced. You may also need other specific records, for example, a logbook for car expenses.
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A bank or credit card statement (on its own) usually isn’t enough evidence to support your claim.
The myDeductions tool in the ATO app is the perfect way to keep track of all your receipts and records in one place. It’s easy to use, check out this video on the Australian Taxation Office (ATO) Instagram account.
For more information on keeping the right records for tax time, visit ato.gov.au/keepingrecords
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