| Reasonable Allowance Limits 2003/04 |
| The Tax Office have released a ruling (TR 2003/7) that outlines the amounts it considers reasonable for various allowances paid to employees for the 2003/04 year of income. |
Employees who receive these allowances up to the reasonable amount specified in the ruling are not required to substantiate actual expenses incurred.
The allowances covered include:
- overtime meal allowances paid under an award;
- domestic travel allowances for accommodation, food, drink and incidental travel costs;
- travel allowances for employee truck drivers; and
- overseas travel allowances for food, drink and incidental travel costs (excluding accommodation).
The reasonable award overtime meal allowance for the 2003/04 income year is $19.75 per meal.
Reasonable travel allowance amounts vary by city or country centre. Reasonable allowances are specified in the ruling for a broad range of travel destinations.
Caution: If an allowance paid exceeds the reasonable amount specified in the ruling, the entire claim must be substantiated, not just the excess over the reasonable amount.
5th-March-2004 |
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