Some allowable deductions on your Income Tax Return by Rafael Amoranto

PAYG income earners can still claim car and/or travel expenses as long as it is related to their work and the employer has not given reimbursement for such expenses. There are also some restrictions to claim those expenses so it is necessary to check with an accountant.

Self-education expenses may also be claimed if it is related to one’s current work.

The following are the most common deductions that can be claimed and yet overlooked by many taxpayers. These items must be work-related and must be proportioned according to the work-related portion.

? Internet access at home
? Mobile phone paid by a taxpayer
? Home office expense; a taxpayer can claim 34cents per
work-related hour he or she spend at home
? Stationery
? Computer or equipment; subject to the depreciation
rules

There could be some more deductions that may be claimed according to your circumstances so make sure to check with your accountant.

Updated: 2012-08-04 — 07:37:54

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