SOME THINGS TO REMEMBER

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Golden Rules

If you want to make a claim for work-related expenses, you need to follow the three golden rules:

- The expense must relate to your work

- You mustn't have been reimbursed by your employer

- You must be able to prove that you spent the money. That means that you must keep receipts, invoices or statements to demonstrate that you actually incurred the expense

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Keep a Paper Trail

Keep electronic copies of all documentation in relation to expenses. Paper receipts get lost or fade, keeping everything together on your phone or computer will save time and effort when you come to complete next year's tax return. The ATO has an app in which you can do this, you can also try 'Expensify'.

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Seek Advice

Get help! Using a tax agent takes away the stress of needing to know all the rules and regulations and opens up a whole world of expertise to guide you through the process. That way you can be sure you're claiming everything you're entitled to.

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