Question: If my pay is made directly by my employer into an everday bank account, can I claim the bank fees and charges associated with that account?
Answer: In most cases, the answer will be no. Banks rarely charge for deposits into everday accounts and this would be the only portion you may have a claim for in regards to work.
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
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{ 2 comments… read them below or add one }
Hi there. i have a query on tax deduction. Actually the thing is that i am credit collection officer and work 5 days 10 to 6 SITTING job. I work full time but i haven’t signed any contracts so i presume i am still a casual. i have been working there for last 2 years. My question is that during my work i developed a problem for which i had to go through a surgery and had to take break from my work . As i think i am casual i didnt got any pay for that and total income loss and other expenses were around $2000. The problem was due to long sitting hours. So can i claim these expenses in my tax return as deductions.
Regards
Hi Karan,
I’m going to assume you are on wages. You cannot claim lost wages as a tax deduction here but you can claim a tax rebate for out-of-pocket medical expenses over $1,500.
This can be a decent tax offset that a lot of people neglect. Rebates directly reduce your tax liability and, ultimately, are more beneficial than deductions.
For more information on this particular tax offset, see http://www.lewistaxation.com.au/1_medical_offset.htm