There are common misconceptions about what you can claim when it comes to claiming work related expenses. Follow the three golden rules for claiming work related expenses.
The ATO closely monitors work related expenses and unusual patterns associated with specific employers and may contact you directly to verify information about the expenses your employees are entitled to claim.
There are three golden rules for claiming work related expenses. Employees must:
- have spent the money themselves and not been reimbursed;
- ensure the expense is directly related to earning their income; and
- have a record to prove their claim.
It is important to provide the right advice to your employees about what they can claim. The ATO has a range of information available to help you understand the rules around claiming deductions for work related expenses. If you would like further information, I encourage you to contact me at info@makecentsaccounting