Small Business Tools: ATO App ‘myDeductions’ Tool - Managing your Personal Tax Deduction Claims
- Arnold Shields
- Jun 1, 2016
- 2 min read
Updated: May 23
Struggling to keep track of your work-related expenses, travel claims, and receipts throughout the year? The Australian Taxation Office (ATO) has made it easier than ever with the myDeductions tool available in the ATO app.
This feature-packed tool allows you to record deductions and tax-related expenses on the go, helping you stay organised and ready when it’s time to lodge your tax return. Whether you’re an employee, sole trader, or claiming deductions for donations and managing tax affairs—myDeductions has you covered.
What Can You Record in myDeductions?
You can record the following types of expenses:
Work-related: self-education, travel, uniforms, tools
Donations and gifts
Expenses incurred in managing your tax affairs
Car travel related to work or managing tax matters
How to Record Your Expenses
Using myDeductions is simple:
Open the ATO app and access the myDeductions tool.
Enter the amount, date, and description of your expense.
Allocate the expense to the appropriate deduction category.
Upload a photo or scan of your receipt.
Once stored digitally and clearly, you’re not required to keep paper copies. Just make sure your device is regularly backed up.
Tracking Work-Related Travel Has Never Been Easier
No more confusing spreadsheets or handwritten logs. myDeductions allows you to record car travel via:
GPS tracking
Estimation of trip distance
Manual odometer logbook entry
You can even log travel related to managing your tax affairs—like attending appointments with your
accountant.
Lodging Your Tax Return
Come tax time, simply share your myDeductions data with Dolman Bateman, and we’ll handle the rest. This means a more efficient, accurate, and stress-free tax return process.
Want to make sure you’re claiming all the deductions you're entitled to? Call Dolman Bateman on (02) 9411 5422 to speak with one of our tax experts.
Disclaimer:
The information provided in this article is general in nature and does not constitute personal financial, legal or tax advice. While every effort has been made to ensure the accuracy of this content at the time of publication, tax laws and regulations may change, and individual circumstances vary. Dolman Bateman accepts no responsibility or liability for any loss or damage incurred as a result of acting on or relying upon any of the information contained herein. You should seek professional advice tailored to your specific situation before making any financial or tax decision.
