Cost of managing tax affairs
You can claim a deduction for expenses you incur in managing your own tax affairs, including:
- preparing and lodging your tax return and activity statements
- travel, to the extent it is associated with obtaining tax advice – for example, the travel costs of attending a meeting with a recognised tax adviser
- appealing to the Administrative Appeals Tribunal or courts in relation to your tax affairs
- obtaining a valuation needed for a deductible gift or donation of property, or for a deduction for entering into a conservation covenant
- an interest charge we imposed on you (see Interest charged by the ATO for more information).
Expenses relating to preparing and lodging your tax return and activity statements include the costs of:
- buying tax reference material
- lodging your tax return through a registered tax agent
- obtaining tax advice from a recognised tax adviser (a registered tax agent, barrister or solicitor)
- dealing with us about your tax affairs.
You generally incur the fees in the year you pay them.
You can claim a deduction for expenses you incur in managing your own tax affairs.