myDeductions

Access to myDeductions

You can access the myDeductions tool through the ATO app. Using the ATO app makes it easier and more convenient to keep records in one place, including photos of your receipts and invoices.

As an individual (employee) you can record your expenses and work-related trips (car expenses).

As a sole trader you can record your expenses, work-related trips (car expenses) and income.

To use the myDeductions record-keeping tool:

• download the ATO app to your smart device
• access the myDeductions tool  
  • if you have not logged into the ATO app, myDeductions can be accessed from the quick link on the ATO app home screen, this is the screen you see when you first open the app
  • if you have logged into the ATO app, you can find myDeductions by selecting the More button and then selecting myDeductions
• select whether you'd like to use the tool as an individual (generally or as an employee), as a sole trader (business) or both.

Records you add are stored locally on your device. You should back up your data to a separate location regularly using the Back up feature in myDeductions in case your device is broken, lost or stolen as this isn't an automatic process.

Record keeping with myDeductions

As an individual or employee, you can:

• use the myDeductions tool to keep records of your        
  • work-related expenses (such as work from home expenses)
  • work-related trips (such as a logbook for car expenses)
  • general expenses (such as the cost of managing your tax affairs or gifts and donations you make)
• upload these records at tax time to make lodging your tax return easier.

As a sole trader, you can:

• use the myDeductions tool to keep records of your        
  • business income
  • business expenses
• upload your records at tax time to make lodging your tax return easier
• share your data by emailing it to your registered tax agent.

If you're a sole trader with a primary production business or personal services income you:

• can record your business income and expenses
• can share your records on myDeductions by emailing it to your registered tax agent
• shouldn't upload your records to pre-fill your tax return.

To share your records via email using an iPhone or iPad (iOS), you will need to have the Apple Mail app installed on your device.

Using myDeductions at tax time

Whether you lodge your own tax return or use a tax agent, using myDeductions can help you organise and keep your tax records.

When you are ready to prepare your tax return you can:

• email your records, to either        
  • yourself
  • your tax agent
• upload your records to us to be ready to pre-fill your tax return, then either          
  • you can lodge your tax return
  • your tax agent can access the records you upload through their practice management software.

If you download the ATO app and use the myDeductions tool:

• Only record your information on a single device throughout the year, because you can't consolidate sets of records and you can only upload once per financial year.
• Multiple people can't use one device.
• Backup your data to a separate location regularly in case your device is broken, lost, stolen, or before you choose to update to a new smart device.