The safest way to claim a tax deduction is with the support of receipts. However, written evidence comes in more than just receipt form. In some cases, you can rely on credit, debit or bank statements and information from your tax agent. Or you may have kept your receipts, but they have faded and you are unable to read them, or your receipts have gone missing. So, you need to know where you stand for tax deductions without receipts.
If you decide to make tax claims without receipts, you’ll need to satisfy the following criteria:
- You can claim tax deductions without receipts if it is an expense directly related to your occupation and necessary for your occupation.
- You can claim work-related deductions if you paid for the work-related item from your personal account.
- If you are not reimbursed for your expenditure and you paid for the work-related item from your personal account, you can claim the expense.
In many cases, the ATO will accept a bank statement or other written evidence that you made the purchase. If you purchased multiple items on one receipt, and some are personal and some for work, you need to distinguish between personal expenses and work-related expenses. If in doubt, a tax agent will be able to help.