Claiming Your Work-from-Home Expenses: What You Can and Can’t Deduct (June 25 Tax Update)

Relevant For:

Employees who work from home and are seeking to claim tax deductions for WFH expenses.

Key Points:

• You must be genuinely working from home and incur running costs to claim WFH deductions.
• Choose between the fixed rate (70c/hr) or actual cost method, but, both require accurate records.
• The fixed rate method includes energy, internet, phone and stationery - no separate claims allowed for these.
• Actual cost method demands detailed receipts and usage proportions.
• Claims for home office equipment are separate - items over $300 must be depreciated; under $300 can be claimed outright.

Full Article:

If you’ve been working from home, it’s important to understand what expenses you can legitimately claim this tax time and which ones could land you in hot water with the ATO.

What Counts as Working from Home?