Are Socks a Tax Deduction? As a general rule the answer is a big fat No, that is no tax deductions for socks. Only one exception, where the socks form part of a registered Corporate Uniform. And if that applies to you, you would already be aware of it. This type of tax deduction in its various formhas been tested in the courts over the years and has never been found to be tax deductible.
Five overlooked Tax deductions The following costs are often overlooked as Tax Deductions. So take note, just in case it effects you. Professional memberships and subscriptions Union memberships and trade associations that are connected with your job are tax deductible expenses. Consider also magazines that reflect your occupation and provide professional development or insights into the
Uniforms and your Income Tax return What we're talking about here are the strictly enforced Corporate Uniforms. The are distinctive and they are compulsory. These uniforms MUST be registered by your employer with AusIndustry and have characteristics such as colour, style and type that are strictly enforced. Classic example would be the Air Hostess uniform. The extent of the uniform would
My wife put $4000 into her Superfund, how much does she get back? Everyone can contribute up to $27,500 for annual super contributions. So as long as your personal super contributions and your employers super contributions don't exceed the $27,500 then your $4000 will be tax deductible. How much she gets back depends on her taxable income in a particular year. Australia has a sliding tax sca
Union fees, subscriptions and your income Tax Return If you pay money to your Union then that is Tax Deductible. Some employers will deduct the amount from your wages. If this occurs the amount will appear on your annual tax summary and uploaded to the ATO. Otherwise retain your tax receipt or proof of payment for your income tax return. Along with your union fees, if you paid for profess
I get a motor vehicle allowance now, does that mean I can't claim my car costs anymore? This could be a bit of a complex issue if we consider Fringe Benefits Tax, so for the purpose of the answer we'll ignore it. So you know, Fringe Benefits Tax is an employer issue that doesn't really concern you. If you receive a motor vehicle allowance, chances are it's been delivered to you as an allowan
Are Club Memberships Tax Deductible? Lots of taxpayers seem to be able to connect the dots between Club Memberships and their job, and therefore, the earning of wages. For instance meeting clients on the Golf Course and getting some juicy contracts or ongoing work from that interactions with your client. So you would think that you've spent money on cementing your relationship with clients w
In an insane world we thought we'd bring you some insane attempts at insane tax deductions. Now that's just Insane! WeAussies have always had a bit of a reputation as a crazy mob. We can even appear unpredictable to the outside world. And yet we wear that with a bit of pride. The freedom our country provides fuels our creativity which makes usleaders in various fields, but with freedom comes
Are my Meals for work a tax deduction. As a general rule the answer is no. There is no tax deduction for the cost of food, drinks or snacks that you choose to consume doing work during your normal working hours. Oh but if I don't eat at work I'll starve and won't be able to work. That's true but in the same way if you don't eat when you're not at work you'll starve as well. Thatmeal cost is
Entertainment and your Tax Return Now from time to time we go to work functions, have a meal with a client, have a meal with a work mate or even treat the boss (that would be rare). And all that is done in the course of your employment. So tax deductible right? Ordinarily the answer would be yes as there can be in specific situations a connection between earning your income and spending m