Hi. I need to do my short individual tax returns. I don't have anything complicated, just wanted to know under deductions, if anyone knows what's the max amount you can claim stuff without receipts. for example… I know under 'Work-related clothing, laundry and dry-cleaning expenses' =compulsory uniform you can claim up to $150 without proof/receipts. Anyone know any other deductions limits In the deductions section?. Thanks!
Individual Short Tax Returns Deductions Limits?
Go Cat on 31/10/2023 - 13:54
Comments
Deductions you can claim (for individuals) https://www.ato.gov.au/Individuals/Income-deductions-offsets…
Exceptions to records you need to keep https://www.ato.gov.au/individuals/income-deductions-offsets…
you can claim up to $150 without proof/receipts.
You still need to have proof if you get audited.
So my cousin used to work for the ATO years ago but she can't remember the limits of anything anymore or if they've changed the limits but you definitely have a limit where you don't need receipts of Proof, that's what she said
What Deductions Can I Claim Without Receipts?
https://itp.com.au/what-deductions-can-you-claim-without-rec…The ATO generally allows individuals to claim some work-related expenses without receipts, but the claim amount is limited to a maximum combined value of $300. To be clear, you can claim work expenses up to $300 without receipts IN TOTAL (not each item), with basic substantiation. This means that if you have no receipts for work-related purchases, you can still claim up to $300 worth on your tax return.
and
Can I claim small expenses without a receipt?
You don’t have to keep a receipt for work-related expenses that are $10 or less, as long as your total claim for small expenses is $200 or less.If you don’t get a receipt for small expenses you can still claim a deduction as long as you make a record of them all.
3. You must have a record to prove it.
Other work related up to $300 providing you don't have any other deductions. You don't need receipts, but you need to have incurred the expense.
Just buy a bunch of home office stuff from office works and then return it and keep the original purchase receipt for tax purposes
In all seriousness, making contributions to your super is the best tax deduction you can do
That would only work if the OP was submitting their tax return for FY23-24, not the one due today i.e. FY22-23
As mentioned it’s under $300 total, but you need proof just not receipts. If you work in an industry we’re uniforms aren’t the norm you’re setting a big red flag for yourself. They won’t want receipts, but you’ll need a legitimate use (I.e work makes you wear a uniform and you estimate $2 a week to wash, without needing receipts).
It’s not just a free $300 deduction.
You can claim up to 300 dollars without receipts but you need proof on how you came to those figures. For example you spent $50 on dry cleaning for your uniform, one way to prove that it's calculated to $50 is to screenshot the dry cleaners rates, your uniform and create minutes that you went in on X day.
I had a mate that used to work for ATO auditing and the amount of people that try do dodgy stuff was crazy. It also depends on the auditor, as with some auditors, they may ask for proof on small deductions.
But as with the general public goes, you need proof in order on how you got to that amount.
Bucket donations - $10 max with no receipts required.
Accountant's can see as they're lodging your return if deductions for each section are above typical averages for your income level/job title.
A $300 deduction is equivalent to $60-140 refund depending on your tax bracket. Not worth having to justify yourself if you get audited for that amount of money. Just be honest.
In the past under $300 in total did not need receipts, but I have always had receipts as my deductions when I have had income for the year as it was always over $300, but sometimes not much over.
For legal advice on tax speak to your accountant.
Talk about leaving it to the 11th hour.
IANAA but I think you need to be able to justify every deduction with evidence. I'm probably wrong.