Individuals

Personal Tax Returns

Income


Spencer Accountants have prepared a generalised income checklist which may assist you in gathering appropriate documents

Requirements

As an Australian resident for tax purposes, you must declare income form all sources in and out of Australia. Some examples may include:


Employment
Income


Business Partnership
and Trust Income


Amounts You
Do Not Include
as Income


Foreign and
Worldwide
Income


Compensation
and Insurance
Payments


Government Payment
and Allowances


Scholarships
Prizes
and Awards


Investment
Income


Your Income if
You are Under
18 Years Old


Superannuation Pensions 
and Annuities


Tax Assessable
and
Exempt Income

Deductions


Spencer Accountants have prepared a generalised income checklist which may assist you in gathering appropriate documents

Requirements

To claim a deduction for a work-related expense, you must meet the 3 golden rules:


You must have spent the money yourself and weren't reimbursed.


The expenses must directly relate to earning your income.


You must have a record to prove it (usually a receipt).

Work-Related Deductions

You claim these in your tax return at the 'Work-related expense' sections.

If the expense was for both work and private purposes, you only claim a deduction for the work-related use. You can't claim a deduction if your employer pays for or reimburses you for any of these costs. If we think your employer may reimburse you for your expenses we may ask them.


Cars,
Transport
and Travel


Memberships, Accreditations, Fees and Commsssions


Tools, Computers
and Items You
Use for Work


Meals,
Entertainment
and Functions


Clothing and
Items Y
ou Wear
at Work


Personal
Grooming,
Health and Fitness


Education,
Training and
Seminars


Working from
Home
Expenses 

Other Deductions


Gifts
and
Donations


Cost of
Managing
Tax Affairs


Investments,
Insurance
and Super


You may be able to claim other work-related deductions for expenses you incur in the course of earning your income.