Ridesharing and the FBT taxi travel exemption When an employee uses a taxi service for travel to or from work or if the employee is sick, it is generally exempt from Fringe Benefits Tax (FBT) under the FBT taxi travel exemption. The question is, what about Uber and other ridesharing services, do they also qualify for…
The ATO is airing the ‘dirty laundry’ on work-related clothing and laundry expenses warning that it is closely reviewing claims Last year around 6 million people claimed work-related clothing and laundry expenses, with total claims adding up to nearly $1.8 billion. “While many of these claims will be legitimate, we don’t think that half of…
Expenses you can claim If you’re an employee who regularly works from home, you may be able to claim a deduction for expenses relating to that work. These are generally home office running expenses, and phone and internet expenses. In limited circumstances you may also be able to claim occupancy expenses. One such circumstance is…
No tax deductions if you don’t meet your tax obligations New laws passed by parliament last year directly target the behaviour of taxpayers that don’t meet their obligations. Tax deductions denied If taxpayers do not meet their PAYG withholding tax obligations, from 1 July 2019 they will not be able to claim a tax deduction…
Do your homework when working from home Technology-driven changes to the employment market are seeing record numbers of Australians claiming deductions for expenses incurred while working from home. But a high level of mistakes, errors and questionable claims has prompted the Australian Taxation Office (ATO) to increase attention, scrutiny and education for home office expenses…
New immediate deduction for primary producers Legislation that passed Parliament last month will enable primary producers to claim an immediate deduction for fodder storage assets such as silos and hay sheds used to store grain and other animal feed. The deduction is available if the primary producer first uses the asset or has the asset…
Working from home What deductions can you claim? For a while now, the Australian Taxation Office (ATO) has been concerned about tax deductions individuals have been claiming for a whole host of expenses. The latest on their ‘hit list’ are home office expenses. We guide you through what you can and can’t claim if you…
Clothing deductions hung out to dry The Australian Taxation Office is closely examining work-related clothing and laundry expense claims of taxpayers submitting their 2017-18 tax returns. The ATO says that clothing claims are up nearly 20% over the last five years with people either making mistakes or deliberately over-claiming. Common mistakes include people claiming ineligible…
What can you claim if you’re a flight attendant, police officer or a nurse? What you can and can’t claim Each occupation has specific circumstances which affect what can and cannot be claimed. Here are some snippets from some ATO occupation guides. Remember, regardless of the occupation you are in, you can only claim the…
Tax myths busted! With tax season underway, the ATO has identified the top 10 tax myths and misunderstandings it says are causing incorrect claims. Helping Australians get their returns right Assistant Commissioner Kath Anderson says unreliable tax advice is leaving taxpayers exposed. Top of the list is the myth that everyone is entitled to claim a…