A S Accounting

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CHANGES TO WORKING FROM HOME DEDUCTION CLAIMS
Australian taxpayers who work from home and want to use the fixed rate per hour method will need to be aware of some coming changes to the record keeping requirements and calculations.

ATO assistant commissioner Tim Loh advised “From 1 July 2022 to 28 February 2023, we’ll accept a record which represents the total number of hours worked from home (for example a four-week diary),”

“From 1 March 2023 onwards, taxpayers will need to record the total number of hours they work from home.”

Another important change to note - in addition to the upcoming register of each hour worked, those using the fixed rate method will need to retain copies of utility bills covering expenses incurred in the home office.

For further information, refer to:

Working from home expenses Employees working from home may be able to claim a deduction for the expenses you incur relating to your work.

Time is running out...

If you’re a company director, you'll need to apply for a director identification number ( ) by 30 November 2022.

There are 3 steps to apply online:
1️⃣ Set up myGovID
2️⃣ Gather your documents
3️⃣ Complete your application.

Watch our step-by-step demonstration video on how to apply online @ www.abrs.gov.au/director-identification-number

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