August 2012 Newsletter

In this edition:

Welcome

Buying an asset: what is the best way to finance it?

Directors be aware of company unpaid super

2012 post year end checklist

Claiming work-related expenses

Are you entitled to an age pension?

To claim an expense, you must have spent the money and not been reimbursed by your employer.

This can include expenses such as:

• car expenses, including fuel costs and maintenance 
• travel costs 
• clothing expenses 
• self-education expenses 
• union fees 
• home computer and phone expenses 
• tools and equipment expenses 
• journals and trade magazines

It is important to note you can claim deductions for expenses if all the following apply:

• you incurred the expense in doing your job 
• the expense is not private or personal 
• you can produce receipts or other written evidence

You generally cannot claim the following expenses associated with your work:

• travel between your home and your workplace 
• expenses for a uniform consisting of conventional clothing like a black skirt and white shirt or blouse 
• self-education expenses where the course you are undertaking does not have sufficient connection to your current employment.



If you are unsure about claiming work related expenses, please call your Goodwin Chivas & Co contact to discuss the matter further.