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How to Manage your Deductions
June 8, 2016
The Australian Tax Office has released a new option on its ATO app that helps us all keep track of our expenses, it's called my deductions.
This is a great option for individuals who have work expenses that their employers don't reimburse, such as using your car for work, or if you have to buy uniforms or protective clothing. It is also a good option for very small businesses that don't use accounting software.
The expenses you capture can then be sent directly to the ATO or your tax agent when it's tax time. It all means you get a faster tax return done.