What are common tax deductions for IT professionals?

Typical deductions include technology and software, professional training, home office expenses, communication costs, and travel expenses.

Do I need receipts for all expenses?

Yes, especially for items above $300, keeping receipts and records is essential to substantiate your claims.

Maintain a logbook or detailed travel records to accurately determine your vehicle's business-use percentage.

Yes, if the learning directly relates to your current job, subscriptions to online learning platforms are deductible.

Yes, second-hand items used for professional purposes are deductible or depreciable based on their cost and use.

Keep your tax-related documents for a minimum of five years from your tax return lodgement date.