Tax Deductions Checklist for Financial Planners in Bendigo

Tax Deductions Checklist for financial planners in Bendigo

If you are in finance profession and needing to claim work-related tax ecpenses for the last financial year or the next financial year, contact us by completing the Tax Deductions Checklist for financial planners using the form on this page and the following points which are important:

  • you must have spent the money yourself and weren’t reimbursed
  • it must be directly related to earning your income in finance
  • you must have a record to prove it.

You can only claim a deduction for the work-related portion, if the expense was for both work and private purposes.

The information found on this website is a general advice taken from many sources. Please consult the ATO website or contact a professional accountant for financial planners  in Bendigo VIC for more advice.

When doing your tax returns in 2022 for the last tax year or previous tax years,  don’t forget to report all income in your tax return and remove any portion of your expense that is not work or finance related.

According to the Australian Taxation Department (ATO), when you claim a tax expense deduction in finance profession or any other profession, you are stating that everything you have told ATO is true and can be supported with records.

It your responsibility for the claims you make in your tax return, even if you use a registered tax agent to prepare and lodge the returns on your behalf.

Call our tax accountants for financial planners in Bendigo on 02 8294 7500 who understands the finance professionals and our tax experts in Bendigo know what financial planners can claim as tax deductions on their tax returns.

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