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Tax Deductions

Tax Deductions

1. Vehicle and travel expenses

While you generally can’t claim expenses for getting to and from your regular workplace, there are some work-related vehicle and travel expenses you may be able to claim.

These may include:

  • Where your work requires you to attend multiple workplaces or locations
  • Car expenses where you need your car to perform your work duties
  • Accommodation expenses when you’re required to travel for work

You can find out more about vehicle and travel expenses you can claim on the ATO website.

2. Home office expenses

There are certain criteria you should consider before you claim an amount for home office expenses in your tax return. These include:

  • Phone and Internet expenses
  • Electronic Devices consumables (e.g., printer paper and ink) and stationery
  • Home Office Equipment (e.g., computers, phones, printers, furniture, and furnishings) – you may be able to claim either:- The full cost of the items, if it’s less than $300; (check ATO’s guidelines for the amount) or
    – The decline in value (also known as depreciation) for items over $300.

Also, keep in mind your entitlement to claim a tax deduction for expenses will depend on your personal circumstances. You can find out more about deductions you can claim at the ATO website.

3. Clothing

If you bought occupation-specific clothing, protective clothing or work uniforms specifically related to your job, you may be able to claim these costs, as well as related cleaning costs, as work-related expenses such as uniforms. safety goggles and protective sunglasses. To claim these costs as tax deductions, you may need an invoice too. Check this out with your Registered Tax Agent. You can find out more about clothing, laundry, and dry-cleaning expenses you can claim at the ATO website.

4. Education

If your studies were work-related and you enrolled in an eligible course, you may be able to claim a tax deduction. Remember your current study that carries a CoE may not be eligible for that. If you would like to check whether you can claim for it find out more about self-education expenses at the ATO website.

5. Industry-related deductions

You may also claim tax deductions for work-related expenses specifically related to your occupation and industry. You can check the list of occupations and industries on the ATO website to see what industry-related tax deductions you can claim.

6. Investment Income

You may be able to claim investment income tax deductions if you’ve incurred:

  • Interest income expenses
  • Investment income expenses
  • Dividend and share income expenses
  • Rental and holiday home expenses
  • Forestry managed investment scheme deduction

If you’ve incurred any of these, you could be entitled to claim for costs related to this income. You may also be able to claim money you paid for investment advice.

You can find out more about interest, dividend and other investment income deductions you can claim at the ATO website.


7. Other Work-related expenses

There are other work-related expenses you may be able to claim as tax-deductible expenses, depending on your work and individual circumstances. Expenses to consider include:

  • Subscription fees to anything required by workplace
  • Overtime meals
  • Union fees, subscriptions to associations and bargaining agents’ fees
  • COVID-19 tests used for a work-related purpose

8. Gifts and Donations

If you gave a gift or donation to an organisation (e.g., your favourite charity), you may be able to claim a tax deduction. However, there are specific rules that apply. Generally, you can claim any donation you made above $2 if it was to a deductible gift recipient. For gifts, different rules apply depending on the type of gift. You can find out more about gifts and donations you can claim at the ATO website.

Once you’ve lodged your tax return, make sure you keep all your records of expenses. The ATO may ask you to provide evidence to support any claims you make. You can find out more about the tax deductions you can claim at the ATO website.

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Last updated: 15 March 2024

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