With the end of the financial year fast approaching, businesses can assist their apprentices by reminding them of the possible tax deductions they may be entitled to.
To claim a deduction for a work-related expense:
- You must have spent the money and you weren’t reimbursed
- The expense must directly relate to earning your income
- You must have a record to prove it, such as a receipt
The types of expenses that may apply to an apprentice include self-education expenses, tools and equipment expenses, clothing expenses, car expenses, and other expenses.
For more information, visit http://www.ato.gov.au/apprentice2021
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