HSC Together Year 11 Maths Standard: Allowable Tax Deductions

#### Maths Standard

• Earning and Managing Money
• Formulae and Equations
• Measurement and Energy
• Relative Frequency and Probability
• Perimeter, Area and Volume
• Classifying and Representing Data
• Linear Relationships
• Interest and Depreciation
• Exploring and Describing Data
• Working with Time
• Budgeting and Household Expenses
• Back to other subjects
Back to other subjects

# Allowable Tax Deductions

### What are allowable tax deductions?

Allowable tax deductions are amounts allowed by the Australian Tax Office to be deducted in order to calculate a lower taxable income. Some deductions include: work-related expenses, self-education expenses, travel expenses, tool expenses and donations to charities. The videos below will help you solve allowable tax deduction questions in Prelim Standard Math.

### What are taxes?

Before we can understand tax deductions, we need to understand what taxes are. This video explains them in greater detail.

### Tax deductions in more detail

The video below explains what tax deductions are in more detail.

### How to calculate a person’s total yearly taxable deductions

The following video explains how to calculate a persons total yearly taxable deductions based on payments made throughout the year.

### How to calculate travel costs as a deduction

The following video explains how to calculate a persons total yearly taxable deduction in relation to their travel costs.

### How to calculate depreciation as a tax deduction

The video below illustrates how to calculate depreciation as a tax deduction.

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