Tax deductions for investment advisors and managers
Investment advisers and managers develop financial plans and invest and manage funds.
Average weekly pay: $1,701
Employment size: 45,900
Future growth: Stable
Skill level Bachelor Degree or Higher
Typical tax deductions include:
- Motor vehicle travel to and from work if having shifting workplaces – working at more than one site each day before returning home.
- Motor vehicle travel between offices, visiting clients or for training purposes.
- Phone and internet -work%.
- Client gifts bought for work purposes by salespersons who are entitled to receive commission income – includes a Christmas hamper, a bottle of whisky, wine, gift vouchers, flowers, etc.
- Home office occupancy expenses if required by the employer to work from home – includes rent, mortgage interest, rates, insurance, etc.
- Computers, tools, and equipment.
- Referral commission and expenses.
- Handbags, briefcases and satchels.
- Overnight travel expenses visiting clients or attending training – 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.
- Advertising – if earning income from a fixed salary and not entitled to earn commission.
- Gifts – if earning a fixed income and not entitled to earn commission.
- Entertainment expenses including buying lunch for a client or business associate.
- Expenses incurred in attending social functions e.g. monthly sales representative networking breakfasts.
Tax Strategies we can assist you with.
Self education expenses
Computers, tools, equipment and other assets
Compulsory work uniform
Gifts to clients, suppliers and contractors
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
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