Thursday, 5 September 2013

Tax tips, part 13: other deductions

Sections D11-15 of the supplementary tax return are a catchall for less-commonly used tax deductions.  It’s worth having a read through and seeing if any of these apply to you in a given year.

What you can claim

Examples of what you can claim include:

  • The deductible amount of the undeducted purchase price of a foreign pension or annuity – most notably Austrian, British, Dutch, German, and Italian penions
  • Personal superannuation contributions – provided that you were fully self-employed and less than 10% of the sum of your assessable income plus your reportable employer superannuation contributions plus your total reportable fringe benefits amounts is attributable to the activities that result in you being treated as an employee for the purposes of the superannuation guarantee