Every year taxpayers try and make some questionable claims in their tax return. Find out what won’t fly with the ATO.
Mark Chapman, director of tax communications at H&R Block, said it was surprising the things people try to claim.
“The category of people who can claim a deduction for gym memberships is restricted to those whose fitness level is well in excess of the norm,” he said. “In addition, you can’t claim a deduction for getting your business attire laundered or dry cleaned for the same reason.”You might need to look your best for work but that doesn’t mean that the money spent on hair care, make-up and even cosmetic surgery is tax deductible – such costs are regarded as private in nature and not claimable, Mr Chapman said.As a general rule, the cost of the daily commute isn’t deductible so enduring that train or car ride is all on you.
“Surely, a business meeting on the golf course is more likely to land a deal than sitting around the boardroom table? Quite possibly, but that doesn’t make golf club memberships or other similar costs, such as tennis clubs or MCG memberships, a claim,” he said.Don’t jump for joy if you think you’re golf club membership can be claimed as a deduction.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US authorities investigating leak of wealthiest Americans' tax records, including Musk and BezosThe leaked data indicated billionaires including Amazon founder Jeff Bezos and Tesla's Elon Musk paid no federal income tax during some years.
Read more »
The number of Melburnians claiming emergency government COVID payments wouldn't even half fill the MCGFewer than 8,000 people have so far received emergency cash payments from the federal government and some say they are still financially stressed as the support ends along with lockdown.
Read more »
Mice and rats 'little walking time bombs' for hungry raptorsA long-term study finds high levels of rat poison in wedge-tailed eagles, suggesting that the toxins are having a broad impact on the food chain.
Read more »
'Right to be complacent': Economist stuns Q+A with his COVID viewsEconomist Cameron Murray causes a stir on Q+A by claiming Australia's COVID-19 response has been over the top and the vaccine 'was a stroke of luck'.
Read more »
Traditional owners reject Netflix ‘donation’ offer over Byron BaesThe Arakwal Corporation has refuted claims that Netflix consulted with them prior to commencing the controversial reality show.
Read more »