tax deductions - all about planners

Name: ______________________________ Financial Year: _____________________

Work:

Cabs home from a work event

Transport to meetings

Work shoes

Work uniform (if it has e.g. embroidery on it)

Dry cleaning and/or laundry for the above

Car Mileage

Professional memberships/Licences/conferences

Subscriptions e.g. journals in your field

Tools e.g. machinery

Travel expenses – accommodation, food, events, transport, rental cars, baggage fees, travel insurance

Car expenses – mileage, toll fees, car repairs and maintenance, registration fees

Eating out with a client i.e. business meetings

Union and professional association fees

Job search expenses

Home office expenses e.g. internet if you work from home

Students:

Transport costs (fares or fuel) to and from university

Stationery

Textbooks

Course fees (E.g. if you live in Australia: student services amenity fees)

Trade, professional or academic journals

Internet usage costs (excluding connection fees)

Equipment such as laptops and iPads

Can’t Claim:

________________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________________________________________

© AllAboutTheHouse https://www.etsy.com/shop/AllAboutTheHouse http://www.allaboutthehouseprintables.com.au

Tax Deductions

Tax Budgeting Accountant Comparison Tax Budgeting


Home Office/Blog/Business:

Electricity (or a portion of your home’s total bills if you have a home office)

Water (or a portion of your home’s total bills if you have a home office)

Internet (or a portion of your home’s total bills if you have a home office)

Mobile Phone (or a portion of your home’s total bills if you have a home office)

Stationery – business cards, brochures desktop organizers, binders, notepads, notebooks, pens, tape,

calculators, printer paper, printer ink cartridges, file folders, staplers, paper clips etc.

Virtual assistant

Website design

Income Protection Insurance

Contents Insurance

Health Insurance

Online website expenses e.g. hosting fees, domain name registration and renewal, Mailchimp,

ConvertKit or other email subscription software

Blog themes e.g. for Wordpress

Advertising

Machines & equipment e.g. printer, laminator, camera

Mailing & packaging supplies and courier charges

Cost of goods sold

Computers, laptops, tablets, phones

Software e.g. Photoshop

Stock photos used for marketing or your product images (or props and the camera if you choose to

take your own stock photos, or if you sell stock photos)

Accountant’s fees to complete your tax return & book-keeping fees throughout the year if you

employ someone to keep your books up to date

Interest on loans – business debt, properties held by the business, car loan etc.

Depreciation on equipment e.g. computers and cars

Self-education – ebooks, ecourses, subscription to sites like Creative Live, seminars, conferences

(and associated travel expenses if applicable)

Bad debts – i.e. customer received a product but got a refund or didn’t pay for services you

performed and expected to be paid for

Bank fees e.g. credit card annual fees, late payment fees (although you should be paying off your

credit card before these are incurred!), everyday banking account keeping fees etc.

Payment processing fees – Paypal, Stripe, Etsy etc.

Professional advice e.g. lawyer

PO Box


Tax Deductions


Home office/Blog/Business:

Trademark application and registration fees

Australian business number (ABN)

Rent if you have a bricks and mortar store (or a portion of the rent on the home you live in, in

accordance with the area of your work space/home office)

Charitable donations

Equipment rental & repairs

Licenses e.g. nurses registration or real estate licence

Photo props e.g. for Instagram pictures featuring your products

Business lunches or dinners

Office Furniture (bookcases, desk, chair, filing cabinet etc.)

If you work outdoors – sun protection e.g. hats, sunscreen, sunglasses

Personal Protective equipment (PPE) e.g. if you work on a construction site

Mortgage interest on business property

Shipping/postage costs & packaging

Parking & toll fees

SEO services

Maintenance expenses e.g. if you have a brick and mortar store and pay for a cleaner, carpet cleaner, landscaping, security, building management fees/body corporate, pest control etc.

Luggage for business travel or a briefcase for everyday business use

Gifts (restriction apply)

Medical and dental

Superannuation (Australians) or IRA (US residents) contributions (restrictions apply)

If you’re a direct sales consultant - party expenses (food, gifts, samples etc.)

Logo design

Product samples and display elements

Fees to attend markets and be a stall holder

Supplies e.g. materials used for a DIY project you blogged about, ingredients for food recipe or a

cookbook you created

Business coach

________________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________________________________________

________________________________________________________________________________________


Tax Deductions

Tax Budgeting Accountant Comparison Tax Budgeting


Rental Property:

Property management fees & commissions

Repairs and maintenance

Interest portion of loan (bank charges & borrowing expenses)

Costs incurred to inspect the property e.g. airfares, accommodation and meals (must be apportioned

if travel was also for recreational purposes)

Property management fees & commissions

Repairs and maintenance

Bills such as water and power

Council Rates

Cost of having a tax depreciation schedule prepared

Body corporate costs & sinking fund fees

Home & contents insurance

Pest control

Gardening & lawn maintenance

Rubbish disposal

Foxtel/paid TV

Cleaning costs

Advertising for tenants

Bank charges

Land tax

Phone expenses

Legal expenses

Stationery and postage

Depreciation on the property

Quantity surveyor’s fee to prepare a tax depreciation schedule (or update one you already have)

Renovations or improvements to the property after purchasing

Mortgage discharge expenses

Pre-paid expenses (e.g. if you pay your insurance premium for the entire year up-front, rather than

month-to-month)

Book-keeping fees (e.g. if you have a few investment properties)

Security patrol fees (if required)

Servicing costs e.g. routine pool maintenance inspections

Tax-related expenses e.g. asking your accountant for advice on what you can and can’t claim

________________________________________________________________________________________

________________________________________________________________________________________


Tax Deductions

tax deductions - all about planners

Documents