Deductions reduce your taxable income — the golden rule is you must have spent the money yourself, it must relate directly to earning your income, and you need a record.
| Deduction | Notes |
|---|---|
| Work-related car expenses | Cents-per-km method (up to 5,000km) or logbook method |
| Working from home expenses | Fixed rate method (67c/hour) or actual cost method |
| Self-education expenses | If directly connected to your current employment |
| Uniforms and protective clothing | Compulsory or distinctive work uniforms, safety gear |
| Tools and equipment | Depreciated over time if over $300, immediate if under |
| Donations | To registered Deductible Gift Recipients (DGRs), $2 or more |
| Income protection insurance | Premiums for income protection (not life insurance) |
Deduction eligibility and methods have specific ATO rules and record-keeping requirements. Verify with a registered tax agent or the ATO for your situation.