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Money Doesn’t Come Without Guidance ...

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27
Apr

Tax offsets

Tax Offsets or Rebates are not same as the tax deductions. It directly reduces the tax payable. Usually, offsets cannot get us refund on their own, but can reduce our tax payable to zero. The tax offs...

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27
Apr

Other work-related expenses

Income tax is calculated on the basis of a taxpayer’s taxable income. The taxable income is calculated by deducting allowable deductions from the taxpayer's total assessable income for the year ...

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27
Apr

Work-related self-education expenses, gifts or donations, cost of managing tax affairs

Work-related self-education expenses An individual can claim tax deduction if his or her study is work-related or receive any taxable bonded scholarship. According to Australian Tax Office (ATO)...

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27
Apr

Work related uniform, occupation specific or protective clothing, laundry and dry cleaning expenses

As a taxpayer you can claim the cost associated with buying and cleaning work-related clothing. ATO allows an individual tax payer to claim the cost incurred to purchase certain work related uniform, ...

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27
Apr

tax deduction on work related car & travel expense

Car Expense An individual can claim deductions for car expense if the individual uses his/her own car for work related purpose as an employee. Scenarios include the following: If Individual c...

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