Working from Home Deduction

There has been changes to the working from home deduction.

To enable us to prepare your tax returns and provide you the best deduction, we require you to action the following for the 2023 tax year.

          1.      Please keep all receipts/ records

          2.      A taxpayer must keep the following records:

                       a.      From 1 July 2022 to 28 February 2023 — a record which is representative of the total number of hours worked from home.

                       b.      From 1 March to 30 June 2023 — a record of the total number of actual hours worked from home for the period.

We highly recommend keeping a diary log of your work from home hours to comply with this legislation.

                       c.       From 1 July 2023, A taxpayer must keep a record for the entire income year of the number of hours worked from home.

We highly recommend keeping a diary log of your work from home hours to comply with this legislation.

          3.      For expenses such as electricity, gas, internet, mobile phone, home telephone, stationery, and computer consumables, etc, please keep all receipts or bills.

The above will enable us to work out the best deduction for you when preparing your future tax returns while complying with legislation.

If you have any queries regarding this, please book in an advisory session with us.