With the 31 October 2017 lodgement date deadline for 2017 individual tax returns approaching for those who do not lodge with a registered tax agent, it's worth taking the time to review any of your expenses during the financial year, incurred as part of your work or business, as you may be able to claim a deduction to reduce your tax bill.

In general, expenses are claimable when:

The Australian Taxation Office (ATO) provides   detailed categories of expenses you can claim  on its website, which you can refer to for details on what you can claim. Some of them are outlined below.

1. Vehicle and travel expenses

The ATO has very specific conditions around what you can and can't claim for trips between home and work and between workplaces. These conditions may not be as straightforward as you expect, so it's important to  read the relevant section on the ATO website . If you're using your own car, a car you lease or someone else's car for work purposes, you should be aware of the  changes to calculation of car expenses deductions  effective this financial year.

2. Clothing, laundry and dry-cleaning

 If you purchased  occupation-specific clothing, protective clothing or work uniforms , you can claim for the money spent, as well as the costs of cleaning those clothes.  But if your employer gives you an allowance for clothing and cleaning, you must show the amount of allowance as part of your income on your tax return.

3. Gifts and donations

Check if any organisations you donate to, for example your favourite charity, have the ATO's   'deductible gift recipient ' status so you can claim for the gifts donated. A gift can be money or other financial assets, such as property and shares.  Any amount you donate above $2 can be claimed back. For other assets, different rules apply depending on their type and value. As the name implies, you must have given the gifts voluntarily  without receiving material benefit or advantage. This means you can't claim items such as raffle tickets or fundraising dinners.

4. Home office expenses

Tools and equipment such as computers, furniture and phones used for work purposes are claimable, either   immediately or over a period of time   (via depreciation of the asset).  You can also claim for  costs incurred from running your home office , including heating, lighting, repairs and cleaning if some of your work is from home. But make sure you're only claiming the work-related portion and not the portion for private use. If in doubt, speak to a trusted tax adviser.

5. Investment income deductions

You may have received interest payments on your savings, dividends from your investments in shares, rental payments from an investment property, or some other type of investment income.  If so, you may be able to claim for  costs related to producing these incomes , such as account-keeping fees and interest charged on money borrowed to buy stocks or rental properties. Money paid to seek advice on changing the mix of your investment can also be claimable.

6. Educating yourself

If you enrol in eligible education courses and your study is work-related, you may be able to claim a deduction. Take note of   the conditions you must meet   and the types of expenses you can claim for this.

7. Tools, equipment and other equipment

You can also claim the cost of repairing and insuring your tools and equipment and any interest on money you borrowed to purchase these items.

Some occupations may have more specific circumstances than others when it comes to claiming expense deductions. The   ATO has a list of occupations   that you should check against to see what particular spending related to your job is deductible.

Finally,   keep all your records  from when you lodge your tax return. The ATO may ask you to provide evidence to support your claims.

If you have any queries as to what you can and cannot claim as a deduction please do not hesitate to contact us .