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You may be thinking of managing your tax affairs. Australian Taxation Office (ATO) will provide you deduction for the costs incurred in the process. You can claim a deduction on expenses, including:

  •  Preparation and lodgement of your tax return and activity statements;
  • Travelling cost related with your tax affairs – for instance, fuel cost or toll fees incurred while visiting a tax accountant asking for advice;
  •  Appealing to the Administrative Appeals Tribunal or courts in relation to your tax affairs;
  •  Attaining an estimation required for a deductible gift or donation of property, or for a deduction for entering into a conservation agreement;
  •  An interest charge which ATO imposes on you.

Expenses in relation to preparation and lodgement of your tax return and activity statements include the costs of:

  • Obtaining tax reference material; 
  • Lodging your tax return through a registered tax agent; 
  • Getting tax advice from a recognised tax adviser; 
  • Dealing with ATO regarding your tax affairs. You generally incur these fees in the year you pay them.  

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