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Deductions denied for work-related expenses.
The Administrative Appeals Tribunal ('AAT') recently held that a taxpayer should not be allowed deductions for various work-related expenses, largely because the substantiation requirements had not been satisfied.
Last chance to claim deductions under temporary full expensing.
Deductions under ‘temporary full expensing’ are only available in the 2021, 2022 and 2023 income years, and are expected to come to an end on 30 June 2023.
Significant changes to claiming working from home deductions.
From 1 March 2023 there are significant changes to claiming working from home tax deductions, including changes to the method of calculation and new strict record keeping requirements.