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Salaried people can claim lot of work related deductions in 2024 Tax return.
- D1 Car expenses – You can claim fuel, rego, insurance, parking, tolls.
- Cents per Km method – Claim 85 cents per km. No receipts required. Maximum 5000 kms allowed. Only Diary required to show work kms.
- Logbook method- Claim high deductions. Logbook and all receipts required.
- D2 Travel expenses- Claim train, ferry, taxi, parking fees, car hire, flight, meals
- D3 Uniform expenses –
- Claim actual purchase of uniform, laundry, alteration, dry cleaning.
- Claim protective stuff like safety vest, jacket, hat, sunglasses, sunscreen.
- Laundry claimed @$1 per load.
- D4 Self Education expenses – books, pens, stationary, student union fees, student services, amenities fees, course fees, your home to education travel expenses
- D5 Other work-related expenses – Claim Stationary, pens, books, overtime meals, depreciation, phone bills, union fees, magazine, journals, subscriptions, purchase of tools, license fees, internet charges, income protection insurance, professional seminars, conferences, workshops, technical journals, hard hats, repair costs for the computer, Work from home etc.
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Work from Home deduction – No Bills required and you can claim 67 cents per hour.
All these expenses can be claimed – Home office, phone, laptop, computer, electricity, gas, internet, office cleaning. You can also claim rent in limited circumstances.
D9 – Gifts or donations – paid to approved charity.
D10- Tax Agent fees, ATO Interest charges
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D12- Personal Superannuation contributions You may be able to claim a deduction for personal superannuation contributions that you made to your superannuation fund or RSA provider from your after-tax income, for example, from your bank account directly to your superannuation fund.
Medicare Levy Exemption:
This applies for International Students/ Work Visa/ Families with low income (Under $45,000)
If you are not eligible for Medicare benefits, then you can extra tax refund.
Rental Loss – If you have rental property and expenses in managing it are more than rent, then you can claim loss in your tax return.
Property expenses are insurance, bank interest, council rates, water, property agent fees, land tax, depreciation , lawn mowing, repairs, legal fees, pest control, cleaning, borrowing expenses, advertising for rent etc.
