General Expenses Deduction Guide

18 June 2020

Items to consider in 2020 tax return.

To maximise your deductions and ensure that your tax return is complete, please review the following items and advise your Accountant if any apply to you.


  • PAYG payment Summary (employment)/Income Statement from myGov or Tax Agent Portal if employer registered for STP
  • Allowances / Tips / Director’s Fees
  • Employer Lump Sum Payment
  • Centrelink / Pension Income
  • Annuities / Superannuation Lump Sum Payments
  • Interest Amounts + TFN Credits
  • Dividend Statements
  • Employee Share Schemes
  • Partnership + Trust Distributions
  • Business Income
  • Capital Gains / Losses – Property / Shares
  • Foreign Income
  • Rental Property Income
  • Royalties
  • Taxable Scholarships
  • Jury Service Payments


  • HELP (higher Education Loan Program) / HECS
  • SFSS (Student Financial Supplement Scheme)
  • Child Support Agency Liability
  • Net Medical Expenses Offset
  • Health Insurance Statement
  • PAYG Instalment Credits
  • Other Offsets + Tax Credits
  • Reportable Fringe Benefits Amount



  • Work related motor vehicle expenses (logbook maybe required)
  • Gifts + Donations
  • Tax related expenses (inc. tax agent fees, travel to tax agent)


  • Un-deducted Purchase Price – Pension / Annuity
  • Income Protection Insurance
  • Union Fees
  • Home Office Expenses
  • Seminars / Courses / Conferences
  • Overtime Meal Expenses
  • Briefcase
  • Tools + Equipment
  • Telephone / Mobile Phone / Internet
  • Bank Fees (e.g. re: deductible purchases)
  • Interest Expenses (e.g. re: deductible purchases)
  • Sun Protection Items (e.g. sunscreen, safety glasses, protective gloves)
  • Reference Books / Journals / Trade Magazines
  • Prior Year Losses
  • Superannuation Contributions

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While all reasonable care is taken in the preparation of the material in this document, to the extent allowed by legislation Findex accept no liability whatsoever for reliance on it. All opinions, conclusions, forecasts or recommendations are reasonably held at the time of compilation but are subject to change without notice. Findex assumes no obligation to update this material after it has been issued. You should seek professional advice before acting on any material.

This document contains general information and is not intended to constitute legal or taxation advice. If you need legal or taxation advice, we recommend you speak to a qualified adviser.

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19th June 2020