2017 Tax Planning Checklist: Wage/Salary Earners

Property Income

Wage/salary earners should review the items under Personal Planning and in addition consider property income and expenses if the taxpayer has a rental property.

Work Related Motor Vehicle Expenses

The cents per kilometre method (66c per kilometre) is available where work related use is 5,000 kms or less pa. Otherwise a logbook must be kept for a 12-week period each 4 years or when there is a change in travel patterns. A diary should be kept of work trips to substantiate kilometres travelled if 5,000 kms or less. Work related travel does not include travel between home and place of business.

However, you may include additional travel for work related trips between home and your place of work.

Work Related Expenses

Note the total of work related expenses included in the return as compared to the amount the ATO allows without receipts being produced ($300