Tax Deductions for Actuaries, Mathematicians and Statisticians

Tax Deductions for Actuaries, Mathematicians and Statisticians

mathematics 

Average weekly pay:          $2,142 
Employment size:               8,800  
Future growth:                     Very Strong     

Skill level                                Bachelor Degree or Higher                     

Actuaries, mathematicians and statisticians develop and apply actuarial, mathematical, statistical and quantitative principles to solve problems in a range of fields such as business, finance, scientific, social, and engineering.


Typical tax deductions include:

  • Travel visiting clients, attending different workplaces, and attending training courses.
  • Overnight and overseas travel for work purposes including airfares, meals and accommodation.
  • Briefcases, handbag, man-bag or work bags.
  • Professional seminars, courses, conferences and workshops.
  • Reference books, technical journals and trade magazines.
  • Phone, internet and laptop (work portion only). 
  • Self-education courses related to the current job.
  • Home office running expenses. 
  • Professional memberships.

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 business matters are discussed.

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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