
How to claim working from home expenses in your tax return this year
The ATO has scrapped the previous 80 cents per hour shortcut method of claiming home office expenses and reduced this to 67 cents per hour.
Read more…Use our checklist and make sure you aren't forgetting anything that could you cost you money or land you in trouble with the Australian Tax Office (ATO). Here's a snapshot of what the checklist will include:
1. The basics: This includes your Tax File Number (TFN) and income statement among other things
2. Your earnings: This includes your annual payment summaries, lump sum payments received, investment income and other earnings
3. Deductions. Details of work-related expenses you wish to claim, receipts and and capital losses
Now let's go into more detail on each of these points.
Here we've compiled a tax return checklist of some pre-return information you might need to get together:
The ATO has scrapped the previous 80 cents per hour shortcut method of claiming home office expenses and reduced this to 67 cents per hour.
Read more…Millions of Australians have admitted to being less than truthful on their tax return, according to new research by Finder.
Read more…Millions of Australians are counting down to lodge their tax returns as they desperately need the cash, according to new research by Finder, Australia’s most visited comparison site.
Read more…We spoke to a tax expert to let you know how the ATO is monitoring WFH deductions.
Read more…We spoke to a top tax expert to get the best tips for your return.
Read more…If you've still been working from home at all in the past year you can claim money back in your tax return.
Read more…DISCLAIMER: Many of the comments in this article are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information applicability to their own particular circumstances.
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