Total Deductions
Not available in Accountants Office
This screen is used for entering all the deductions a taxpayer may claim.
Work Related Deductions: Enter the total amount of the work-related expenses claimed by a taxpayer, for example, work-related motor vehicle travel, uniforms, self-education and other deductions D1 to D5, gifts and Cost of tax affairs.
Project Pool Deductions: Taxpayers are able to deduct an amount for a project carried out for a taxable purpose. Capital expenditure amounts are allocated to the pool over the life of the project.
LV Pool Deductions: Taxpayers are able to claim a deduction for low cost assets allocated to a low‐value pool. Small business entities may claim a deduction for the decline in value of assets that are added to the General small business pool.
PP Prior Year Losses: The amount in this field pre-fills from the Primary production prior year losses claimed this income year field in the tax return. Primary Production losses may be carried forward indefinitely.
Non-PP Prior Year Losses: The amount in this field pre-fills from the Non-primary production prior year losses used this income year field in the tax return. You may deduct prior year losses from a taxpayer's taxable income for non-primary production business if the losses do not have to be deferred.
Super Contributions: Enter the amount being claimed as a deduction for Personal Superannuation contributions.
Interest: Enter the amount of the expenses incurred in earning interest income. Deductions may be claimed against interest income only if a taxpayer can demonstrate that the deduction relates to the earning of assessable income.
Dividends: Enter the amount of the expenses incurred in generating dividend income, for example interest on moneys borrowed to purchase shares, brokerage, etc. Deductions may be claimed against dividends received only if a taxpayer can demonstrate that the deduction relates to the earning of assessable income.
Gifts or Donations: Enter the amount for gifts of over two dollars each in value, to approved organisations.
Managing tax affairs: Enter the expenses incurred by the taxpayer in managing their own tax affairs. These expenses include those related to:
Preparing and lodging your tax return and activity statements. for example, buying tax reference material, lodging your tax return through a registered tax agent, obtaining tax advice from a recognised tax adviser (a registered tax agent, solicitor or barrister), or dealing with the Tax Office about your affairs.
The cost of travel to the extent that it is associated with obtaining tax advice. For example, the travel costs of attending a meeting with a recognised tax adviser.
Appealing to the Administrative Affairs Tribunal or courts.
Obtaining a valuation needed for a deductible gift of property or for a deduction for entering into a conservation covenant.
Undeducted Purchase Price: Enter the amount of the undeducted purchase price of a Foreign Superannuation Pension or Annuity.
Forestry MIS deductions: Enter any deductions that the taxpayer is entitled to from a Forestry managed invest scheme interest.
Franked distributions from trusts: Enter any deduction related to the earning of Franked Distributions from a trust.
Other deductions: Enter any other deductions that you have been unable to enter at any of the above descriptions.
Total deduction: When all deductions have been entered, the total is displayed at this field.