The ATO is warning those submitting their tax returns this year to take care when submitting ‘other’ work-related deductions to claim back, as they are closely scrutinising. If you are planning on claiming work-related deductions this tax return season, you will need to show:
To ensure that you remain compliant with your tax obligations when claiming work-related expenses, you should ensure that you have access to all of the relevant information that you will need to prove that the amount being claimed is eligible as a deduction.
Here is a guide as to what we will require from you to prepare your income tax return. Please note that these documents may not apply or be needed by everyone.
To prove income, you will need to give us evidence of the following:
You will need to provide us with documentary evidence of the following to claim these as deductions:
You will need to provide us with evidence of the following:
You may also be able to claim a deduction for the expenses that are incurred while performing your work duties at home if you are a current employee working from home. You will also need to have accurate records, receipts and information irrespective of the method that you use to claim (Shortcut, Fixed Rate or Actual Cost).
Accurate record-keeping of all documentation regarding income, work-related expenses and other expenses will help expedite the process of lodging your tax return by us. If you require any additional information regarding what you need to provide in terms of documentation for your tax return, you can speak with us.