Tax deductions for economists
Economists perform economic research, develop economic theories, and provide analysis on production, people’s spending and financial behaviour.
Average weekly pay: $2,000
Employment size: 6,000
Future growth: Very strong
Skill level Bachelor degree or higher
Typical tax deductions include:
- Motor vehicle travel to and from work if having either shifting workplaces (working at more than one site each day before returning home), or transporting bulky equipment when visiting clients.
- Motor vehicle travel between offices, visiting clients or for training purposes.
- Phone and internet – work %.
- Computers, tools and equipment – includes cameras, video recorders, and laptops.
- Handbags, briefcases and satchels.
- Overnight travel expenses visiting clients or attending different workplaces – includes airfares, meals and accommodation.
- Home office running expenses.
- Compulsory work uniform branded with the employers logo.
- Union fees, licences, registrations and subscriptions.
- Work-related training courses – includes first aid, OH&S, bookkeeping, sales techniques, customer service, merchandising, computer skills or management.
- Self-education expenses – includes course fees, books, stationery, equipment and travel.
- Entertainment expenses such as buying lunch for a client or business associate.
- Expenses incurred in attending social functions e.g. monthly networking breakfasts.
Tax Strategies we can assist you with.
Self education expenses
Computers, tools, equipment and other assets
Compulsory work uniform
Union fees, licences, registrations and subscriptions
Phone and internet
Motor vehicle expenses: cents per km method
Home office running expenses
Handbags, briefcases and satchels
Overnight travel expenses
Clients served since 2012
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