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Substantiation for mobile, home phone and internet costs
Posted by Team AVS on 28 Jul, 2017 0 CommentsTags: ATO, internet, Mobile, Tax Deductions, Tax Return, Work related expense
The ATO has issued guidance on making claims for mobile phone use as well as home phone and internet expenses, and says that if you use any of these for work purposes you should be able to claim a deduction if there are records to support claims.
But the ATO points out that use for both work and private matters will require you to work out the percentage that “reasonably relates” to work use
A large tax refund may feel like free money, but it isn’t. During 2015-16, ATO has refunded close to $28b to individuals. Many tax refund recipients are putting that money to work. Some taxpayers getting a refund expect to save or invest the money, while others may use the money to pay down the debt.
Here’s the bad news: If the ATO sends you a huge check, it means you’ve likely overpaid on taxes throughout the year.
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