AdvisorCorp

Tax Planning Advice

Our Tax agents can help you to legitimately reduce your tax liability in your returns. 

AdvisorCorp is registered with the Tax Practitioners Board

We are also a member of a professional accounting organisation Institute of Public Accountants. We abide by professional and ethical standards. 

Tax Tips

Just remember that for an expense to qualify:
  • you must have spent the money yourself
  • it must be directly related to earning your income
  • it must not have been reimbursed
  • you must have the relevant records to prove it.

The ATO has been given additional funding to close the $8.7 billion individuals tax gap and part of its focus is on employee claims. The ATO will also receive the details of your work-related deductions data from your tax return, whether lodged through an agent or by yourself.
What can I claim for Work-related Deductions?
Claiming all work-related deduction entitlements may save considerable income tax. Typical work-related expenses include employment-related mobile phone, internet usage, computer repairs, union fees and professional subscriptions that the employee paid themselves and for which they were not reimbursed. 
Be aware that the ATO has received a large boost in funding that enables a stronger focus on ensuring taxpayers claim only the work-related expenses to which they are entitled. 
How can I maximise Motor Vehicle Deductions?
If you use your motor vehicle for work-related travel, there are two choices of how you can claim. 
  1. If the annual travel claim does not exceed 5000 kilometres, you can claim a deduction for your vehicle expenses on the cents-per-kilometre basis. This figure includes all your vehicle running expenses, including depreciation. You do not need written evidence to show how many kilometres you have travelled, but the ATO may ask you to show how you worked out your business kilometres. The ATO has flagged concerns that taxpayers are automatically claiming the 5000-kilometre limit regardless of the actual amount travelled.
  2. If your business travel exceeds 5000 kilometres, you must use the log book method to claim a deduction for your total car-running expenses. Please contact us to clarify what constitutes work-related travel and which of the above methods can be applied to maximise your tax position.
Can I claim $300 for work-related expenses without substantiation?

You cannot just claim $300. You must incur expense before it is claimable. Whilst you may not need receipts for expenditure up to $300, you must have spent the money, and it must be relevant to your employment.

Need help with your tax return?

Our comprehensive deduction questioners capture each and every deduction you are entitled to based on your occupation.

Contact Us

ITR Checklist

This list may help jog your memory about some work-related expenses or other tax deductible items that you may otherwise have overlooked.

Income
Other Items
General Deductions
Specific Deductions
Income
  1. PAYG Payment Summary (Employment)
  2. Allowances / Tips / Director’s Fees
  3. Employer Lump Sum Payment
  4. Centrelink / Pension Income
  5. Annuities / Superannuation Lump Sum Payments
  6. Interest Amounts & TFN Credits
  7. Dividend Statements
  8. Employee Share Schemes
  9. Partnership & Trust Distributions
  10. Business Income
  11. Capital Gains / Losses – Property / Shares
  12. Foreign Income
  13. Rental Property Income
Other Items
  1. Help (Higher Education Loan Program) / HECS
  2. SFSS (Student Financial Supplement Scheme)
  3. Child Support Agency Liability
  4. Net Medical Expenses Offset
  5. Health Insurance Statement
  6. PAYG Instalment Credits
  7. Other Offsets & Tax Credits
  8. Reportable Fringe Benefits Amount
General Deductions
  1. Work-related motor vehicle expenses (log book may be required)
  2. Work-related travel expenses (travel diary may be required)
  3. Work-related clothing & laundry expenses
  4. Work-related self-education expenses
  5. Other work-related expenses (see below)
  6. Interest & Dividend Deductions
  7. Gifts & Donations
  8. Tax-related expenses (includes tax agent fees, travel to tax appointment)
  9. Un-deducted Purchase Price-Pension / Annuity
Specific Deductions
  1. Income Protection Insurance
  2. Union Fees
  3. Home Office Expenses
  4. Seminars / Courses / Conferences
  5. Overtime Meal Expenses
  6. Briefcase
  7. Tools & Equipment
  8. Depreciation on work-related assets
  9. Calculator / Electronic Organiser
  10. Computer Costs (includes repairs & printing costs)
  11. Software
  12. Memberships & Subscriptions
  13. Telephone / Mobile Phone / Internet
  14. Bank Fees (e.g. re: deductible purchases)
  15. Interest Expenses (e.g. re: deductible purchases)
  16. Sun Protection Items (e.g. sunscreen, safety glasses, protective gloves)
  17. Reference books / Journals / Trade Magazines