myTax 2018 Cost of managing your tax affairs

This section is about:

• expenses you incurred in managing your tax affairs, including fees paid to a recognised tax adviser for doing your tax return
• costs of applications made to the Administrative Appeals Tribunal or appeals to the courts about your tax affairs (litigation costs)
• an interest charge we imposed on you
• amounts we charged you for underestimating a varied goods and services tax (GST) instalment or pay as you go (PAYG) instalment
• expenses for complying with your legal obligations relating to another person's tax affairs.

You incur an expense in the income year when:

• you receive a bill or invoice for an expense that you are liable for and must pay (even if you don't pay it until after the end of the year)
• you do not receive a bill or invoice but you are charged and you pay for the expense.

For more information, see You need to know.

Depreciation and capital allowances tool

Warning:

This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

End of attention

You can use the Depreciation and capital allowances tool to work out the total decline in value deduction. To access the tool, select the 'Work it out' link in the Deductions section on the Prepare return screen.

Completing this section

We have pre-filled your tax return with cost of managing your tax affairs information that has been provided to us. Check for cost of managing your tax affairs that are not pre-filled and ensure you add them.

1. For each cost of managing tax affairs expense that has not been pre-filled in your tax return, select Add.
2. Select the Type of deduction and enter information into the corresponding fields.
3. Select Save.
4. Select Save and continue.

Note: If you used the Depreciation and capital allowances tool, fields containing information from the tool cannot be directly adjusted in myTax. To make any adjustments to this information, or to add new assets to the tool, select Work it out.