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Tax deductions misconceptions

Wrongly claiming tax deductions can result in heavy penalties from the tax office. Despite this, many Australian taxpayers continue to attempt claiming invalid tax deductions that are rejected by the tax office. While some are not quite so obvious, below are some common misconceptions about deductions that many taxpayers believe.

Driver’s licence: While claiming deductions for vehicle expenses such as repairs and servicing is allowed, claiming for the cost of a standard driving licence is not.

Vaccinations: Vaccinations against the diseases an employee may be in contact with due to work are not tax deductible

Childcare: Claiming deductions on the expenses paid to have someone care for your children during work hours is not viable, even when this is necessary for a person’s career advancement.

Commuting to work: Although certain circumstances, such as picking up or delivering heavy equipment, can allow a deduction, general travel between home and work does not.

Relocation expenses: The costs associated with changing employment, such as moving house or meeting an employment agreement are not deductible. This is because the expenses are often regarded as being incurred by gaining an assessable income.

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