Golden rules for claiming a tax deduction

When you are thinking about what work‑related expenses you may be able to claim a tax deduction for, keep in mind the three golden rules set out by the ATO.

1. You must have spent the money yourself and weren’t reimbursed by your employer.

2. The expense must directly relate to earning your income. If you use something for private and work purposes you can only claim the work‑related portion of the expense.

3. You must have a record to prove the expense. Receipts are best but you can check the ATO website for what other types of records may be acceptable.

Effie Zahos

Effie Zahos has been providing expert advice on personal finance and consumer issues for over two decades, and her insights are sought after by many Australians.

The author of several best-selling books on personal finance, including “A Real Girl’s Guide to Money: From Converse to Louboutins,” “Getting Rich, Staying Rich: A Practical Guide to Investing in Shares,” and “The Great $20 Adventure,” her expertise and experience in the area of finance are unparalleled, and she is a passionate advocate for financial literacy in Australia.

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These Tax Tips with Effie Zahos are for general information only, not tax advice.
Before making any decisions you should speak to a registered tax adviser.