If you work from home as a result of COVID19, you may be able to claim a deduction for the additional running expenses you incur. These include, expenses associated with heating, cooling & lighting in the area you are working from, phone & internet & other running expenses.
- You may be able to claim the work-related portion of:
- depreciation of home-office furniture, fittings & equipment such as computers & desks — if your equipment costs less than $300, you can claim a full deduction for the work-related portion
- home telephone calls (25 cents per landline call; 75 cents per mobile call; and 10c per text that are made for work related purposes)
- internet access charges
- printer & printer cartridges
- stationery
- the cost of heating, cooling & lighting your home office that is over the amount you would ordinarily have to pay if you did not work from home (either your actual expenses or a rate of 52 cents per hour).
- the costs of repairs to your home-office furniture & fittings
- maybe even a portion of rent or mortgage interest (but beware of CGT) if its a condition of employment that your home is a place of business
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Tags: 101 Ways, Accountant Melbourne, Accountant Sydney, Business, CGT, Company tax, Deductions, Education, Employees, Employers, Family, FBT, Home Office, Personal tax, Property, Shares, Travel
Author: Mr Taxman, Dr Adrian Raftery