Income & Tax Deductions For Engineers
Posted on June 21st, 2010 in Tax deduction finder
Remember, you cannot automatically claim a deduction just because you received an allowance. For a summary of deductions specific to Engineers see our post ==> Tax Deduction Finder for My Job.
Engineers commonly get the following types of allowances:
- motor vehicle allowances (based on a cents-per-kilometre basis)
- travel
- meal.
If any allowance is shown as a separate amount on your payment summary, include it as income at item 2 on your tax return. You must include the whole amount of any award transport payment you received.
Receipt of an allowance does not automatically mean that a corresponding tax deduction can be claimed, even if your work might be considered unpleasant, special or dangerous.
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