There is conflicting information out there which can make you think that you can claim certain expenses, but many deductions are industry specific or have limitations dependent upon your circumstances.
Here are some questions we’ve had here in the office:
Where the home is also your business office then some portion of items such as interest, rent, rates, insurance, electricity, repairs, pest control, cleaning, etc. may be deductible. If you only use one room as an office to carry on some work at home, then a much smaller portion of the running costs will be allowable.
A deduction is available for all outdoor workers who buy sunscreen, hats, and sunglasses for use at work. You will need to provide receipts and explain how you use sunglasses in your work. You should apportion the private use of the items.
If your employer requires you to be available by telephone, you cannot claim the installation costs of the phone. You will need to keep a log of your phone and claim a percentage of calls and rentals. This applies to landlines and mobiles.
You must hold evidence of a claim for five years after you have lodged the return. If you lose a receipt, the ATO will accept a credit card slip, a credit card statement or even Bpay or email receipts provided they show the date, supplier, type of goods purchased and the amount.
Fashion clothing is not allowed even if required by your employer. You need to register Compulsory uniforms, and Corporate wardrobes with AUSINDUSTRY (our Accountants can guide you through this process). You can claim Protective clothing. If your clothing is deductible, then you can claim its cost, maintenance, washing/dry cleaning, etc.
If you need advice as to what deductions you think you can claim contact Forsyths today and we can point you in the right direction.