Did you Work From Home during the Past Financial Year?
If you have worked from home in the last financial year, there have been changes to the way you can claim your Working From Home (WFH) tax deductions.
From 01 July 2022 – 28 February 2023 – The ATO will accept a record of the number of hours worked from home through a representative 4 week period to estimate the total of hours worked.
From 01 March 2023 – you are required to have recorded every hour you have worked from home by keeping a WFH diary.
The ATO has changed the way WFH deductions can be claimed. They now fall under two categories.
The Fixed Rate (67c per hour) Method, this is likely to result in lower tax refunds as this method does not allowyou to also claim internet, mobile, stationery and computer consumables
The Actual Cost Method, requires a calculation of your WFH deduction based on your actual electricity, gas, mobile phone, internet and other work related expenses.
To ensure we can calculate the most tax effective result for you, we will need you to add up your gas, electricity, phone and internet bills for the year and provide the hours you have worked from home.
