Good news ladies .... if you’ve purchased a handbag which you use for work-purposes (ie the bag is large enough to carry work papers, laptops or other work equipment), 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
The size of the handbag may be looked into by ATO when reviewing the tax claim. Large tote bags that can carry electronic gadgets such as a laptop or tablet are most likely considered valid deductible expenses, than clutch-type handbags.
Important to note - the handbag needs to be fit for work purposes and actually used for work purposes.
You can claim up to $300 on your handbag purchase, if it is used solely for work purposes.
If it costs more than $300, you will need to use the ATO’s depreciation calculators to find out how much you can claim. You will also need to consider the % that is used for personal use vs work-related.
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