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.
Complete this section if you incurred expenses in managing your tax affairs.
The cost of managing your tax affairs includes:
- preparing and lodging your tax return and activity statements
- fees paid to a recognised tax adviser for preparing and lodging your tax return
- travel to obtain tax advice from a recognised tax adviser
- buying tax reference material
- dealing with us about your tax affairs
- appeals made to the Administrative Appeals Tribunal or courts in relation to your tax affairs
- an interest charge we imposed on
- the late payment of taxes and penalties
- the amount of any increase in your tax liability as a result of an amendment to your assessment
- the amount of any increase in other tax liabilities, such as GST or PAYG amounts.
For more information about an interest charge we imposed on you, see ATO interest - calculation and reporting.
You can also claim any costs you incurred in complying with your legal obligations relating to another person’s tax affairs. This includes:
- complying with the PAYG withholding obligations, for example, where you withheld tax from a payment to a supplier because the supplier did not quote an Australian business number
- providing information that we requested about another taxpayer.
You cannot claim:
- the cost of tax advice given by a person who is not a recognised tax adviser
- a deduction for tax shortfall and other penalties for failing to meet your obligations.
You must read Cost of managing tax affairs if you need more information or want to claim a deduction for an interest charge we imposed on you.
A list of registered tax agents can be found at tpb.gov.auExternal Link or you can check with the Tax Practitioners Board on 1300 362 829.
Depreciation and capital allowances tool
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
- For each cost of managing tax affairs expense that has not been pre-filled in your tax return, select Add and enter information into the corresponding fields.
- Select Save.
- 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.Instructions on completing your individual tax return using myTax.