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OVERTIME MEAL ALLOWANCES – WHAT YOU CAN CLAIM AS A TAX DEDUCTION

So you have worked your eight hours, plus some overtime, and had some takeaway dinner in the meantime. Is that takeaway dinner deductible for tax purposes?

You can claim meals as a tax deduction if:

  1. You receive an overtime meal allowance under an industrial law, award or agreement
  2. The allowance is on your income statement as a separate allowance to be included in your tax return
  3. The meal relates to overtime (while working after more than your ordinary hours)

The ATO sets an amount you can claim for overtime meal expenses without receipts ($32.50 in the 2022 financial year, and $33.25 in the 2023 financial year). This is called the ‘reasonable amount’.

  1. Up to reasonable amount, you don’t have to keep receipts. However, you may need to substantiate the amounts if asked – this could be done by bank statements, a copy of the menu, receipts etc.
  2. More than the reasonable amount, you must keep receipts for your expenses

Click on the link below for more information:

https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Other-work-related-deductions/Overtime-meal-expenses/

 

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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