Australia Tax Agency Updates Guide Explaining Work-Related Expense Deductions for Employees

The Australian Taxation Office June 29 updated a guide explaining work-related expense deduction rules for employees. The guide explains: 1) how to determine if an expense is deductible against employment income; 2) how to apportion your expenses if they are only partly deductible; 3) how to determine whether to take a deduction in the year the expenses are incurred or whether to depreciate the cost of an item over a number of years; and 4) documentation requirements. [Australia, Australian Taxation Office, 06/29/22]

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