We understand that you want to maximise your deductions and we want you to claim everything that you’re entitled to. But first, let’s bust some common myths when it comes to records, deductions, and work-related expenses because having the right records to substantiate claims is essential to prove deductions – no record, no deduction.

Bank Statements

In most cases, a bank or credit card statement on its own won’t be enough evidence to support a work-related expense claim. Your clients will need written evidence (usually a receipt) that shows the supplier, the cost, date of purchase, date the document or receipt was produced, and the nature of the goods or services being claimed.

Claiming More Than $300 of Work-Related Expenses

If your total claim for work-related expenses is more than $300, you must have written evidence to support those claims.

If your total claim for deductible work expenses is $300 or less, you can claim a deduction without written evidence (such as a receipt), but you must be able to show show that you spent the money and how you calculated the amount being claimed.

No Automatic Deduction

While some deduction types don’t require receipts, some kind of record may still be necessary. For any work-related expense claim, you will need to meet the 3 golden rules, and have a record that shows:

• their private and work-related use (like a diary
• how the amount claimed as a deduction was calculated

Supporting You To Keep The Right Records

The Keeping records for work-related expenses covers all the different types of records required for car expenses, working from home deductions, travel, self-education and more.