Don't Let the ATO Reverse your Travel Deductions!
A recent tax case highlighted the importance of keeping proper records to support your expense claims. The case involved a truck driver, Mr Fardell, employed by Toll Holdings Ltd but has implications for anybody claiming a daily rate travel tax deduction.
IMPORTANT: You cannot claim an estimate or daily rate for meal and travel costs unless you are an employee working under the terms of an Enterprise Agreement. If you are in business then you MUST keep proper records of the actual costs incurred.
This is because the exception allowing daily allowance claims can only be used to offset an allowance payable pursuant to a Workplace Agreement.
For more information see Actual Receipts Are Required to Claim a Daily Allowance