hi all,
having trouble working out my first tax return.
currently working as an analyst which requires me to talk to our team.
been working from home for the last 13 weeks and plan to use the fixed rate wfh deductions.
bought a new keyboard $160 and headset $200 and use it 60% of the time for work purposes which i have invoices for both.
would i be able to claim these as work related expenses?
thanks all
You cant claim everything you want, as per comment below. Depending on the method you use for claiming WFH means you may or may not be able to claim these items
Not if you use the shortcut 80c method, it's all encompassing. https://www.ato.gov.au/individuals/income-and-deductions/ded…
Not if you use the shortcut 80c method, it's all encompassing
No it's not. OP has listed keyboard and headset - both of which are classified as "equipment".
From your own ATO link:
This method doesn't include the following, so you will need to separately calculate your work-related use for:
*decline in value of equipment – such as phones, computers and laptops.
(https://www.ato.gov.au/individuals/income-and-deductions/ded…)
That's the 52c method (Fixed rate method)
For the 80c short cut method, "If you use this method, you can't claim any other expenses for working from home."
Yep.. my bad!
but the 80c method only covers from March onwards
what about 2019 July to 2020 February ?
If it's your first tax return do some reading than see a tax accountant.
This or talk to someone more knowledgeable that has done a fair few returns to help you
Try filling in you tax return online. It will mostly prompt you. You don't have to lodge until you are comfortable or November hits
For working from home you may want to evaluate the 80 cents method and actual costs.
I read an article the other day suggesting you could loose out by claiming on the 80 cents, which they said was better for people like me who didn't keep journals and receipts. I did the 80 cents as I'm only a WFH part-timer and didn't have any major purchases
Use the hours worked x 0.52 method + phone, internet and your keyboard and headset
Can you claim furniture/ equipment worth less than $300 each separately if you are using 52c per day flat rate method?
I believe you can't do this if you use 80c per day method. Is that right?
You can claim anything you want, as long as you can justify it and have the receipts.
It's when you start making up purchases the tax man gets angry.