Work-related expenses
To claim a deduction for a work-related expense: 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). If the expense was for both work and private purposes, you only claim a deduction for the work-related part. […]
Family trusts – concessions
A family trust for tax purposes is one whose trustee has made a valid family trust election (FTE). It is not sufficient to simply include the words ‘family trust’ in your trust’s name. A trustee only makes a valid FTE where they have satisfied the relevant tests, and made an election in writing in the approved form. […]