Key information on work from home deductions…

Fixed Rate

For the 2023–24 income year, you can claim 67 cents per hour for working from home. This rate may change each year, so always check the ATO website for the most current information.

No Minimum Hours Needed

Great news! There’s no minimum number of hours you need to work from home to claim a deduction. To qualify, you must:
– Work from home as part of your job duties (not just occasional tasks like checking emails)
– Incur additional costs because you’re working from home
– Keep accurate records of these expenses

Record-Keeping

To claim your deduction using the fixed rate method, you need to track all your hours worked from home between 1 July 2023 and 30 June 2024. This includes recording your start and finish times. Use a diary, spreadsheet, roster, or timesheet to keep detailed records. Remember, these records should be kept contemporaneously—estimates or representative records won’t be accepted.

Stay organized and ensure you’re claiming the right amount for your home office expenses this tax season!

 

 

All information was sourced from the ATO website.