Life Interests Testamentary Trusts

DO NOT BE A DUMMY WITH YOUR DEDUCTIONS



The Australian Taxation Office will be looking for unusually high amounts in relation to work-related expenses claimed in 2017 Income Tax Returns. These claims include car expenses, clothing and laundry expenses. Taxpayers will need to prove the following in order to claim these expenses:

  • They have spent the money themselves and have not been reimbursed.
  • The claim is directly related to earning their income.
  • They will need a record to prove the amount being claimed. 


The link below outlines in detail what expenses a taxpayer can claim and an explanation for those deductions which cannot be claimed:

Please contact Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.


We provide accounting and wealth management services to clients in WoodendGisborne and Macedon Ranges areas within Victoria Australia.   
   

The content within these articles was correct at the time of writing. Please contact us for updated information and advice. 

We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.

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