Do you want to improve your claims for a tax deduction?

We find that lots of clients are unable to make claims for deductions they are entitled to because they have not kept the necessary records to support their claim for tax deductions.

As we are at the early part of the new tax year you can review the record keeping of your expenses to see if your strategy is adequate to maximise your claims for 2012.

Motor Vehicle expenses

If you travel more than 5000 business kilometres in the tax year you should keep a log book to maximise your claim. This needs to be kept for a minimum of 90 days.

If  you  travel  less  than  5000  business  kilometres,  you  can  use  the  cents  per  kilometre method of claim.   You just need to ensure you have records to estimate the number of kilometres you have travelled.

Pick up a FREE Log Book from your local H&R Block Office!

Home Office Expenses

Ensure that you have the necessary records to enable claims for these expenses.  Keep business/private logs for:

• computers, home phone
• mobile phone
• time spent in the home office for work related activities

Pick up a FREE Record Card from your local H&R Block Office!

Other Work Related Expenses

Make sure you have the receipts and invoices for any purchases you have made for:

• professional association and union membership fees
• tools and equipment purchased for work use

Pick up a FREE Tax Saver Envelope to hold you receipts from your local H&R Block Office!