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Did you know your handbag may be Tax Deductible ?

Yep, if you’ve purchased a handbag which you use for work-purposes, dig out that receipt and make sure you include it in your tax expenses when lodging your tax return.  Or if you have some retail shopping urges, you’ve got just a few more precious days to consider whether a you ‘need’ (that was a trick, its most likely a want)to upgrade your current handbag.

“If a handbag is bought for mainly or wholly for work,is used to carry work-related items and is an essential part of a person’s ability to earn an income, then a claim can be made.”  

AUSTRALIAN TAXATION OFFICE

You can claim up to $300 on your handbag purchase.

Warmest,

Karen Eley is a financial coach with more than 20 years’ experience as a financial adviser. Through her business, Women Talking Finance, she helps women to be confident and knowledgeable about all things finance. Karen translates complex financial concepts into simple digestible ideas.

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