Individual Tax Planning

Key tax deductions for 2023 for individuals!

Work From Home Expenses 

There are now only two methods available after the removal of the COVID 80c shortcut rate. See below for more information.

Actual Cost Method


  • data and internet
  •  mobile and home phone usage
  • electricity and gas
  • computer consumables (e.g. printer ink)
  • stationery
  • the decline in value of assets used while working from home, such as computers and office furniture, as well as any maintenance and repairs of these items
  • cleaning (only if you have a dedicated home office).

Please note the above requires detailed notes on how they relate to your working from home. I.e. calculating unit costs of electricity, calculating square meterage of your home office as a proportion of your home, etc.


Fixed Rate (Now 67 cents)


  • data and internet
  •  mobile and home phone usage
  • electricity and gas
  • computer consumables (e.g. printer ink)
  • stationery

You can claim a separate deduction for the other items listed under the actual cost method.

To claim this you will need to keep a record of all the hours worked (e.g. a timesheet, diary, etc.) and evidence that you paid for the expenses covered.


Motor Vehicle Expenses  

See below for the two methods available.

Cents per kilometre method

  • 78 cents per kilometre for the 2023 financial year
  • Maximum of 5,000kms can be claimed per car
  • Diary or work trip logs can be used to estimate total kms

Logbook method

  • Claim based on the work-related portion of actual expenses
    for the car
  • Valid logbook required, for a minimum 12 consecutive week period
  • Actual costs of repairs/servicing, registration, insurance etc. are required
  • Fuel costs can be estimated using total kms travelled

We find for those who have a higher than 40% business use of their car, the logbook method, whilst more record keeping, is often more advantageous.


Work Related Travel Expenses – Ubers, taxis, flights, parking, tolls. Note these require evidence of business use and receipts.


Uniform/Occupation-specific clothing – Do you have any protective, compulsory, non-compulsory or occupation specific clothing?


Self-education Expenses – Course fees, student union fees, text books, stationary that relate to your income earning capacity. NOTE THAT SOME COURSES PAID BY FEE-HELP MAY BE CLAIMABLE IF IT RELATES TO YOUR CURRENT EMPLOYMENT


Other Work Expenses

  • Seminars and Training
  • Memberships, subscriptions, Union fees, Licence Fees
  •  Telephone and internet bills (Please provide a percentage of work use)


Donations – Only donations to a deductible gift recipient are deductible


Investment Deductions – E.g. interest charged on money borrowed to buy shares


Accounting Fees, Income Protection and Wealth Fees 

Notes if your Income Protection Insurance is paid out from your superannuation, it will not be personally deductible


Personal superannuation – you may wish to catch up super under new rules that allow you to carry forward unused contributions (you usually get a $27.5k cap of deductible contributions each year – note this includes employer contributions). You can carry forward any unused cap up to five years and these rules began from the 2019 year


Upcoming changes to personal income tax rates – the tax brackets should change from 1 July 2024


Each client will have their own considerations and structures but the above is an indicative guide only as to some of the things we can look to achieve pre 30 June.