Otherwise Deductible Expenses (ODE’s)
You can claim expenses through Salary Packaging that you would ordinarily claim when doing your Tax Return at the end of the Financial Year (July 1 onwards every year). These are called Otherwise Deductable Expenses (ODE’s).
The benefit of claiming ODEs via Salary Packaging include:
- You get to claim your tax saving now instead of waiting until you do your Tax Return
- Additionally FAA will claim the GST for you and credit it to your Salary Packaging account for your use
ODEs include:
- Work-related expenses;
- Professional memberships & subscriptions;
- Licence fees;
- Medical examination costs;
- Home office expenses such as internet, stationary etc;
- Conference, Workshop, and Seminar Registration fees etc;
- Course and tuition fees;
- Text and reference books and reports;
Note: As the term ‘Work-related’ means that these expenses MUST be required for your ‘current’ employment and NOT be as needed to get your job or for a job change.