Taxpayer Should be careful when they claim home office expenses in their tax returns.

; below are the only summary of Accounting daily article by John Buckley(john.buckley@momentummedia.com.au)

Summary: four key ineligible work-from-home claims

  • Personal expenses like coffee, tea and toilet paper
    ==> aren’t directly related to earning income
  • Expenses related to a laptop, as well as large upfront costs.
    ==> spread out over a number of years
  • Expenses related to rent, mortgage interest, property insurance, or other land taxes and rates.
    ==> working from home does not make a taxpayer’s home a place of business for tax purposes.
  • The temporary shortcut method extended to 30 June 2021.
    ==> keep a diligent log of the hours in your own logbook.

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