According to Registered Tax Agent Farokh Batliwala of Bartly Pty Ltd in Panania, you will be able to claim a higher rate of $0.80c/h for working from home between July 1, 2021 and June 30, 2022, for heating, cooling, lighting, phone, internet, computer consumables and stationery plus depreciation for computers, laptops and IPADs.
“Two or more people living in the same house can each claim $0.80c/h for working from home, however timesheets and diary records will be required for the number of hours worked,” he said.
“Normal substantiation rules and rate of $0.52c/h will be still available for working from home if you choose to do so.”
He says the Federal Government Disaster Payment is tax free and you can claim for expenses such face masks, rapid antigen tests and sanitisers.
“For business tax returns, you could write off up to $150,000 for an eligible asset purchased,” he said.
Temporary full expensing of assets is also available for assets purchased after October 6, 2020 to June 30, 2022, while the NSW Government grant of up to $15,000 and the JobSaver Payment for the latest Greater Sydney lockdown during July to October 2021, were tax free if eligibility criteria were met.
“At Bartly, we’re always on your side,” Farokh said.
“We visit clients’ business or home during or after hours so they feel relaxed in the comfort of their own environment.
“The pandemic has changed the way we work and so it is important that you are across all the financial support available and benefit from it.”
Call Farokh on 0407 280 898 to get the service that you deserve.
Ensure maximum refund return
AS the pandemic continues to impact on the income and deductions taxpayers will be reporting this year, the tax office has extended the shortcut method to claim home office expenses to June 30, 2022.