What tax deductions can I claim?

We did this quick video to cover some of the most common expenses relating to your work and income that you may be entitled to claim at tax time. 

First we cover what a deduction is, and when a expense is actually deductible.  We then cover the following most common deductions:

1. Vehicle and Travel Expenses

2. Clothing and Laundry Expenses

3. Gifts and Donations

4. Home Office Expenses

5. Investment Income Deductions 

6. Other - including Income Protection premiums, super contributions and costs for tax return lodgement in the previous year. 

We also discuss a link to the ATO website that goes through Industry Specific deductions. This is a really useful link, and you can search based on your occupation and industry of what may be claimable. The link is below the video. 

Link to industry related deductions on ATO website 

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