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| *Ostroff, Fair and Company>>>Australia Taxes |
What are the different kinds of tax bonuses that I can claim in Australia? |
What are the different kinds of tax bonuses that I can claim in Australia? If by bonuses you mean deductions.... You can claim tax deductions for expenses that are work related. Generally these expenses must have incurred while you were working and in relation to earning income. Most people pay these by sending a cheque, charging to a credit card, or receiving an invoice for the expense. Goods and services tax (GST) is considered to be part of the expense so can therefore also be deducted. Common Tax Expenses That Could Be Deducted Car expenses Travel Self-education Work clothing purchase Laundry/dry cleaning of uniforms Publications that are purchased for work Tools and equipment (including software and computers) Sickness and accident insurance Depreciation on assets used at work Sun protection items - sunscreen, sunhat or sunglasses Home office expenses Other Expenses That May Be Deducted From Your Tax Charitable donations Balancing adjustments for depreciating assets lost in bushfires Management of your tax affairs for accountants or lawyers Election expenses Tax losses from earlier years Non-employer sponsored super contributions Investment Expenses That May be Deducted Debt expenses obtained through a getting or maintaining a property loan Property project pool Deductions from property trust income Rental property expenses Australian Film industry investment Prepaid expenses Interest and dividend deductions Source(s): http://au.pfinance.yahoo.com/tax/deducti... |
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