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[av_heading heading=’Tax deductible expenses when WFH | series 1′ tag=’h2′ link_apply=” link=’manually,http://’ link_target=” style=’blockquote modern-quote modern-centered’ size=’6vw’ subheading_active=’subheading_below’ subheading_size=’20’ margin=’0′ margin_sync=’true’ padding=’0′ color=’custom-color-heading’ custom_font=’#000000′ av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-k9ntultb’ custom_class=” admin_preview_bg=’rgb(34, 34, 34)’][/av_heading]
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People starts getting used to working from home due to the COVID-19 outbreak in the world. Most of Australians have to stay at home and work from home. Here comes the question, what I can claim from my home office expenses for tax deduction?
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Exceptions
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When working from home due to COVID-19, you can claim the same expenses as home office expenses below, with a few exceptions:
- Occupancy expenses such as mortgage interest, rent and rates
- The cost of coffee, tea, milk and other general household items your employer may otherwise have provided you with at work.
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Shortcut Method
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You can use the shortcut method of calculating running expenses – for all additional running expenses from working from home due to COVID-19, you can claim a deduction of 80 cents per hour as long as you are:
- working from home to fulfil your employment duties and not just carrying out minimal tasks such as occasionally checking emails or taking calls
- incurring additional deductible running expenses as a result of working from home.
- You do not have to have a separate or dedicated area of your home set aside for working, such as a private study.
Note:
- The shortcut method rate covers all deductible running expenses.
- Do not have to incur all of these expenses, but you must have incurred additional expenses in some of those categories as a result of working from home due to COVID-19.
- Cannot claim a further deduction for any of the expenses if you use the shortcut method
- You must keep a record of the number of hours you have worked from home as a result of COVID-19.
- Examples are timesheets, diary notes or rosters.
- If you use the shortcut method to claim a deduction and you lodge your 2019–20 tax return through myGov or a tax agent, you must include the note ‘COVID-hourly rate’ in your tax return.
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Home office expenses you can and can’t claim
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| Expenses | Home is principal workplace with dedicated work area | Home not principal workplace but has dedicated work area | You work at home but no dedicated work area |
| Running Expenses | Yes | Yes | No (Note 1) |
| Work-related phone and internet expenses | Yes | Yes | Yes |
| Decline in value of a computer (work related portion) | Yes | Yes | Yes |
| Decline in value of office equipment | Yes | Yes | Yes |
| Occupancy expenses | Yes | No | No |
Note 1: Generally, an employee who works at home and who does not have a dedicated work area will not be entitled to claim running expenses or their claim for running expenses will be minimal. This is because they can only claim the additional running expenses incurred as a result of working from home.
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Running Expenses
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If you work from home, you can claim the work-related proportion of your running expenses. These include:
- home office equipment including computers, printers, telephones and furniture and furnishings. You can claim the
- full cost for items up to $300
- decline in value for items over $300
- heating, cooling and lighting
- the costs of repairs to your home office equipment, furniture and furnishings
- cleaning costs
- other running expenses including computer consumables (for example, printer paper and ink) and stationery.
Only the additional running expenses you incur as a result of working from home are deductible.
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Occupancy Expenses
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You can only claim the work-related proportion of your occupancy expenses in limited circumstances:
- Where the space in the home is a place of business, and not suitable for domestic use – for example, a doctor or dentist surgery or a hairdresser studio in the home
- Where no other work location is provided to an employee by an employer and the employee is required to dedicate part of their home to their employer’s business as an office – you can claim the portion of these costs that relate to a clearly identified place of business.
If you claim occupancy expenses, you don’t qualify for the capital gains tax (CGT) main residence exemption for the part of your home that you use for work. If you use your home as a place of business there may be CGT implications when you sell it.
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Phone and internet expenses
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You can claim up to $50 with limited documents
If your work use is incidental and you are not claiming a deduction of more than $50 in total, you may make a claim based on the following, without having to analyse your bills. The rates you can use to work out the cost for your work calls are:
- 25 cents for calls made from your landline
- 75 cents for calls made from your mobile
- 10 cents for text messages sent from your mobile.
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Records you must keep
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- Diary entries for a representative four-week period to show your usual pattern of working at home
- That show you worked from home and made work-related phone calls
- That show how you work out how much you used your equipment, home office and phone for work purposes over a representative four-week period
- Receipts or other written evidence, including for depreciating assets you have purchased
- Diary entries to record your small expenses ($10 or less) totalling no more than $200, or expenses for which you can’t get any kind of evidence
- Itemised phone and internet accounts (paper or electronic) from where you can identify work-related calls and internet use, or other written records, such as diary entries if you don’t get an itemised bill.
If you use the four-week representative period to calculate your usage over the income year and your usual pattern of work changes, you will need to keep separate records to show your usage.
- For example, if you usually work from home one day a week and due to an emergency situation such as COVID-19, bush fire or drought you’re required to work from home for an extended period, you will need to keep records for both:
- the actual hours you’ve worked from home due to the emergency situation
- your usual working from home arrangements.
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To be continued…
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In the next series, we will talk about how to calculate these expenses in details so that you can practice on your own calculation for your home office expenses. We will provide some case studies for you to better understand the concepts.
If you have any questions, please feel free to contact via the Get in touch button or send us an email straight away!
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Disclaimer: This is general information only and is subject to change at any time. Your complete financial situation will need to be assessed before acceptance of any proposal or product. The Content provided herein has been prepared for informational purposes only. The Content does not constitute tax, legal or accounting advice and should not be relied upon as such. You should seek tax, legal or accounting advice before acting or relying on any Content.
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Using our expertise to achieve your financial goals!
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