Keep track of deductions on the go with ATO’s new myDeductions tool

By Andrew Hayes, Director, Westlawn Business Services
18 August 2015

The Tax Office recently refreshed its free ATO app to include the new myDeductions tool.

myDeductions is designed to help taxpayers keep track of deductions by capturing expenses on the go.

You can use myDeductions to keep records of:

    • Work-related car expenses using point-to-point, odometer method or electronic log book.
    • Work-related travel expenses such as public transport, air travel and taxi fares, tolls, parking fees, meals, accommodation and incidental expenses incurred while travelling for work.
    • Work-related clothing, laundry and dry-cleaning expenses, for example protective clothing, uniforms, occupation-specific clothing, and laundering or dry-cleaning such clothing.
    • Work-related self-education expenses such as costs of attending seminars, conferences or education workshops.
    • Other work-related expenses such as home office expenses (mobile phone, internet).
    • Gifts and donations, and
    • Costs associated with managing your tax affairs.

Upload deductions straight to the ATO or your tax agent

According to the ATO’s Assistant Commissioner, Graham Whyte, recording an expense in myDeductions is easy.

“All you have to do is add the amount, the date of purchase and a description. The level of detail is up to you. People can also use the tool to categorise their receipts into deduction labels, either when they enter the expense or later when they have more time.

‘‘If you start using myDeductions, come next tax time you will have the option of uploading your completed deductions data to the ATO. We will then use this information to pre-fill your 2015-16 myTax return. If you lodge using an agent, the same information will be available to them to complete your tax return also,’’ Mr Whyte said.

Tools for small business & sole traders

In addition to myDeductions, this latest version of the ATO app also has a range of tools for small business and sole traders. For example, the new business performance check tool gives small business owners a quick snapshot of their financial health and lets them compare their performance to others in their industry.

Where do you get it?

The ATO app is a handy tool for most taxpayers. Even for those who don’t have many deductions, it’s an easy way to check the progress of your tax return, work out how much tax you can expect to have withheld this financial year or to check on your super.

You can download the ATO app for free from the Apple, Android and Windows stores.

For more information on myDeductions, visit

Contact us today

To find out how we can assist you, contact the Westlawn Business Services team today by:

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Disclaimer Westlawn Business Services Pty Ltd provides this information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation.