Tax claims made easy with myDeductions
25th February, 2016
Federal Member for Wide Bay Warren Truss today encouraged local workers to record details of their work-related income tax deductions using the myDeductions tool on the ATO’s phone app. “For the first time, taxpayers completing their 2015-16 tax return will be able to use the new myDeductions tool,” Mr Truss said.
“Rather than storing piles of receipts at home, myDeductions is a great tool to ensure all work-related expenses, including car trips and donations, are stored and accounted for electronically.”
All work-related expenses in the myDeductions tool can be uploaded when tax returns are being completed, or sent directly to the tax agent.
“In the 2014-15 financial year, 8.4 million individual taxpayers claimed work-related expenses, so the new tool will be a popular, easy and convenient way of managing receipts.”
There are three simple rules for workers in Wide Bay to follow:
• The money needs to be spent themselves;
• The expenses must be work-related; and
• There must be a record to prove it.
“When people incur different expenses during the year it is important for taxpayers to check what they are entitled to claim, based on the type of work they do,” Mr Truss said.
“I encourage workers to download the ATO app and use the myDeductions feature, as an easy way of making tax time simpler.”
To get started visit www.ato.gov.au/mydeductions
