For individual tax returns, you will be able to claim a higher rate of $0.67c/h for working from home between July 1, 2022, and June 30, 2023, for heating, cooling, lighting, phone, internet, computer consumables, stationery, depreciation for computer, laptop and IPAD.
Two or more people living in the same house can each claim $0.67c/h for working from home but timesheets and diary records will be required to record the number of hours worked.
The normal substantiation rules will apply to provide evidence which could be energy bills, phone and internet bills, tax invoices and receipts.
For business tax returns, temporary full expensing is still available for eligible assets purchased after October 6, 2020 and up to June 30, 2023.
Your business could be eligible to claim an additional 20 per cent tax deduction on expenses incurred to digitise the business such as the purchase of computer hardware, software, telecommunication equipment, digital media and marketing, subscriptions to cloud-based services, cyber security systems and more.
You could also be eligible to claim an additional 20 per cent tax deduction on providing external skills and training to your employees.
The training can be in person or online and is available for expenses incurred from March 29, 2022, up to June 30, 2023.
Bartly Accountant and Tax Agent Principal Farokh Batliwala CPA said they invested time in their clients to listen and understand their situation in detail to provide targeted advice.
“We visit clients’ business or home during or after hours so they feel relaxed in the comfort of their own environment,” he said.
To make an appointment, call 0407 280 898 or farokh@bartly.com.au.
