What you can claim
You can claim a deduction for expenses you incur in managing your own tax affairs, such as the cost to lodge through a registered agent.
Costs you can claim for managing your own tax affairs include:
- costs associated with preparing and lodging your tax return and activity statements, for example
- buying tax reference material
- tax return preparation courses
- lodging your tax return through a registered tax agent
- getting tax advice from a recognised tax adviser
- dealing with us about your tax affairs
- buying software that allows you to prepare and lodge your tax return (you can only claim a portion of the cost if you also use the software for other purposes)
- travel costs to get tax advice, for example, the travel costs of attending a meeting with a recognised tax adviser
- litigation costs, including court and Administrative Appeals Tribunal fees, and solicitor, barrister and other legal costs
- the cost of a valuation for a deductible gift or donation of property, or for a deduction for entering into a conservation covenant
- an interest charge we impose
- some fees you incur when you pay your tax obligations by card, for example
- credit and debit card fees for a business tax liability (for example, GST)
- debit card fees when paying an individual tax liability
- costs to comply with your legal obligations for another person's (or other entity's) tax affairs
- the portion of financial advice fee that assists you in managing your tax affairs (for example, advice about salary sacrifice).
What you can't claim
Costs you can't claim in managing your own tax affairs include:
- having someone prepare your tax advice who is not either
- a tax agent registered with the Tax Practitioners Board
- a qualified tax relevant provider registered with ASIC
- financial advice fees that aren't in relation to managing your tax affairs (for example, factual information about a financial product that doesn't involve the application or interpretation of the tax laws to your personal circumstances or household budgeting).
If you receive a single invoice for preparing your tax returns and the tax returns for associated people (such as a spouse), you need to split the fees you incur. You must also:
- be able to show how you work out the cost for each
- keep records as evidence to support the deduction you claim.
You generally incur the fees in the income year you pay them.