How Can You Maximise Tax Deductions For Your Job?

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How Can You Maximise Tax Deductions For Your Job?

If you want to reduce your tax bill, you need to claim as many legitimate deductions as you can. Fortunately, the Australian Taxation Office (ATO) produces occupation-specific guides for deductions.

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Each of these guides highlights specific deductions relevant to a particular career. In some cases, they also point out deductions that you can’t claim. Checking these can be useful even if you use an agent for your tax — they might not spot something relevant to your occupation.

We’ve linked to all the currently available occupation guides below. Remember that this year, the ATO is paying particularly close attention to deductions for home computer and phone usage. That doesn’t mean you can’t claim costs in these areas, but you do need to document your usage and apportion costs appropriately.
[related title=”TAX WEEK 2014″ tag=”tax-week-2014″ items=”6″]

Reminder: For specific tax advice relating to your individual situation, consult a registered professional.

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