Tax Question - Claiming Other Work Related Expenses - SOLVED

axloz on 02/09/2019 - 14:51
Last edited 02/09/2019 - 17:27

Hi All, just a quick question re claiming Other work related tax expenses.
I buy magazines and occasional stationery throughout the course of each year - usually when I'm travelling and find I need something I didn't bring with me (notepad, pencils, etc). The magazines I buy are directly related to my work, and I read them to stay abreast of things happening in my industry.

My total spend each year is usually quite low, circa $100 - $200 max.

In previous years, anything under $300 aggregate value in this realm has been tax deductible without the need for keeping receipts. Is this the same this year?

I have some receipts, and can grab a bit of info from my bank statements, but there's a few missing; from a circa $150 total spend for the year.

I've read that each line item listed in the deductions section is now available to the ATO, which is fine as I typically break it down as best I can for my own recollection anyway, but I haven't seen any info regarding receipts for <$300, is this still the case?

TIA!

Financial

Comments

  • DuckKnight on 02/09/2019 - 15:15
    +1

    Yes, deductions that are $300 or less don't require receipts.

    • [Deactivated] on 02/09/2019 - 15:44
      +2

      The total cannot exceed $300. if you want to claim 2 items at 299 each, you need substantiation/receipts

  • mskeggs on 02/09/2019 - 16:15

    You can substantiate in other ways, e.g. a diary note on the day of travel listing what you bought.

  • Kingfield on 02/09/2019 - 16:51
    +1

    FYI - if the total is above $300, you need receipts for EVERYTHING.

    I.e. if you have one item for $299 and another item for $2, you now need receipts for both the 299$ item and the $2 item.

    its not a $300 per item limit.

  • axloz on 02/09/2019 - 17:26

    Thanks all, this all aligns with my understanding also, just thought I'd make sure I hadn't missed any changes this year.

    Thanks again!

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