Tax deductions for information technology professionals
Information technology professionals test, build, install, repair, or maintain the hardware and software associated with complex computer systems.
Average weekly pay: $1,819
Employment size: 242,700
Future growth: Moderate
Skill level Bachelor Degree or Higher
Typical tax deductions include:
- Travel to and from work for employees with shifting workplaces (who regularly work at more than one site each day before returning home) or transport bulky equipment (normally 20 plus kilos).
- Cost of travel related to visiting clients and attending training courses.
- Phone, internet and laptop costs.
- Corporate uniform.
- Depreciation on computers, cameras, video recorders, and laptops. Each item that costs less than $300 can be expensed upfront.
- Briefcases, handbag, man-bag or work bags.
- Professional seminars, courses, conferences and workshops.
- Reference books, technical journals and trade magazines related to IT.
- Self-education courses related to the current job.
- Home office running expenses.
- Professional memberships.
Cost of business lunches (This is the case even if business matters are discussed).
Tax Strategies we can assist you with.
Self education expenses
Computers, tools, equipment and other assets
Compulsory work uniform
Logbook for motor vehicles
Union fees, licences, registrations and subscriptions
Phone and internet
Home office running expenses
Handbags, briefcases and satchels
Overnight travel expenses
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