Tax Deductions Checklist for Yoga Instructors in Bendigo
If you are in yoga profession and looking to claim work-related tax deductions for the last financial year or the next financial year, contact us by filling the Tax Deductions Checklist for yoga instructors using the form on this page and take note of the 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 yoga
- 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 page is a general advice collected from many sources. Please consult the ATO website or contact a professional tax agent for yoga instructors 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 yoga related.
According to the Australian Taxation Department (ATO), when you claim a tax expense deduction in yoga 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.