The ATO has some updates for those of us working from home. It’s called Claiming a tax deduction for expenses for a home-based business.
It has some potentially valuable insights for you if you’ve been working from home these past few months. Here’s a short snippet:
– occupancy expenses (such as mortgage interest or rent, council rates, land taxes, house insurance premiums)
– running expenses (such as electricity, phone, decline in value of plant and equipment, furniture and furnishing repairs, cleaning)
– the expenses of motor vehicle trips between your home and other locations, if the travel is for business purposes.
The rest of the article gets even more in-depth. So, if you want to read more of it, just click on this link to the full article at ato.gov.au.
Download the slides used in our budget recap webinar HERE https://www.youtube.com/watch?v=WkbYSPhlB6c
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