Tax Deductions for Accountants

Tax Deductions for Accountants


Average weekly pay:          $1,400 
Employment size:              188,100  
Future growth:                    Strong     

Skill level                               Bachelor Degree or Higher  

Accountants provide services relating to the preparation of financial statements, taxation, auditing, insolvency, budgeting, financial planning, and business advisory. 

Tasks include:

  • Preparing financial statements, budgets, and reports.
  • Preparation of BAS returns, tax returns, and other tax-related forms.
  • Providing advice on business structures, business planning, tax planning, cash flow management, and profit improvement.

    Typical tax deductions include:

  • Cost of travel related to visiting clients and attending training courses.
  • Briefcases, handbag, man-bag or work bags.
  • Professional seminars, courses, conferences and workshops.
  • Reference books, technical journals and trade magazines related to your work as an accountant. 
  • Computer depreciation, interest and repairs. 
  • Phone calls and internet (Work portion only). 
  • Self-education courses related to your current job.
  • Home office heating, cooling, lighting and cleaning costs
  • Professional memberships – e.g. CPA, IPA, CA, etc.

    Non-deductible expenses:

  • Cost of business lunches, and attendance at sporting events, gala or social nights, concerts or other similar types of functions or events. This is the case even if you discuss business matters.

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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"

- Bono: U2