The Australian Taxation Office (ATO) has set daily rates for meal allowances that are considered tax-free up to specific limits. These rates are intended to cover the cost of meals and incidental expenses incurred while working away from home, travelling for work on overnight trips and working overtime. The ATO’s daily rates for the 2022-2023 financial year is:
- A meal allowance expense of $33.25.
It’s important to note that the rates can change from year to year, so it’s recommended to consult the ATO’s official guidelines or website for the most up-to-date information regarding the current meal allowance rates and any specific requirements or limitations.
It’s also worth noting that if your meal expenses exceed these tax-free allowances, you may be able to claim the excess amount as a deduction, provided you have the necessary substantiation and meet other eligibility criteria.