Income & Tax Deductions For IT Professionals

Remember, you cannot automatically claim a deduction just because you received an allowance. For a summary of deductions specific to IT professionals see our post ==> Tax Deduction Finder for My Job.

IT workers commonly get the following types of allowances:
  • motor vehicle allowances (based on a cents-per-kilometre basis)
If any allowance is shown as a separate amount on your payment summary, include it as income at item 2 on your tax return. You must include the whole amount of any award transport payment you received.

Receipt of an allowance does not automatically mean that a corresponding tax deduction can be claimed, even if your work might be considered unpleasant, special or dangerous.

Copyright 2014. My Tax Zone.