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Let’s talk record keeping - how to keep records for tax purposes

ATO Deductions

Let’s talk record keeping 

Just like that, tax time is here so it’s time to start digging out those receipts! Or, if you used the ATO’s myDeductions tool, all you’ll need to do is whip out your device of choice.


Here are a couple of things to remember: 
1.    Having records of your work-related expenses is essential. If you don’t have the proof to support your claim, you can’t claim it. 

2.    A bank or credit card statement (on its own) is not enough evidence to support a work-related expense claim. In most cases, you’ll need a receipt.

3.    Speaking of receipts, they must show all of the following:

  • the cost 
  • the supplier
  • the date of purchase
  • the nature of the goods and/or services.

You may need to keep other records depending on the expense type, such as a logbook of your car journeys or records of the hours you work from home.

To give you a hand, the Australian Taxation Office (ATO) has provided a handy guide for building and construction workers to help you understand what you can and can’t claim this tax time. 

Have further questions about your work-related expenses? Speak to a registered tax agent, or check out the ATO website for information on:

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