2025 Tax Deduction Checklist

• Deductible to the extent used for work-related purposes.

• Applies to professional persons and other contractors who must pay an annual fee to practice in their chosen field.

• Allowed if the account mainly earns interest.
• Not private transaction fees.

• If used for work and/or business purposes: fully deductible if $300 or less.
• If more than $300, it must be depreciated.

• If used for work and/or business purposes: fully deductible if $300 or less.
• If more than $300, it must be depreciated.

• Allowed to performing artists to maintain existing skills or obtain related skills.

• Software is generally deductible if it costs less than $300, otherwise deductible over 2.5 years.

• Allowed if designed to maintain or increase an employee’s knowledge, skills or ability.

• Deductible if used to manage or track crypto investments that generate assessable income.

• Work-related tools, equipment and plant: items costing more than $300 are claimed over time.
• Items costing $300 or less are generally deductible outright in the year of acquisition.

• Allowed if the cost of the clothing is also deductible.
• See also ‘Laundry’.

• Provided it is directly related to employment or business activities.

• Hospitality industry.

• Protective only.

• Allowed only if the proceeds upon a claim are assessable.

• Allowed only if the proceeds upon a claim are assessable.

• Allowed if money is borrowed for work-related purposes or to finance income-earning assets.
• Interest on underpayment of tax (e.g. General interest charge) is deductible.
• Fines and administrative penalties are not deductible.
• Interest on capital protection loans is deductible, except for a non-deductible capital protection component.

• Allowed to the extent incurred in deriving work-related income, carrying on a business, or earning investment income (e.g. share investing).

• Allowed if the underlying clothing is deductible (see ‘Clothing, uniforms and footwear’).
• Reasonable claims of up to $150 do not need to be substantiated.

• Renewal of an existing employment contract.

• Only if from referral for a work-related business licence and shown on your payment summary.
• Not to obtain a job (capital in nature).

• Only if award overtime meal allowance received.

• Includes bridge and road tolls (but not fines) paid while travelling for work-related purposes.

• Applies to professional employees.

• Non-business individuals and Small Business Entity (SBE) taxpayers: fully deductible if services are to be performed within 12 months.
• All other taxpayers must apportion over the period of service.

No additional notes provided in the checklist.

• Includes harnesses, goggles, safety glasses, breathing masks, helmets and boots.
• Sunscreen, sunglasses and wet weather gear can be allowed where used for protection from the natural environment.

• To income-producing property and/or work-related equipment.

• Including conferences and training courses if sufficiently connected to work activities.

• Fees, books, travel and equipment are deductible only where there is a direct connection between the course and the person’s income-earning activities.

• Diaries, logbooks, pens, paper etc.

• Sunglasses, hats and sunscreen may be deductible for taxpayers who work outside.

• Deductible in the income year the expense is incurred.
• Includes travel/accommodation to a recognised tax adviser for advice, returns, audits or objections; and incidentals for lodging objections/appeals or defending an audit.

No additional notes provided in the checklist.

• Work-related only: fully deductible if $300 or less.
• If more than $300, claim is via depreciation (decline in value).

No additional notes provided in the checklist.