Do you work from a home office and plan on claiming the deduction?
The Australian Taxation Office has announced changes to the way you need to calculate working from home expenses and your record keeping requirements.
In order to rely on the new fixed rate, the ATO expect taxpayers to maintain records of hours worked from home, as well as demonstrate that they have incurred expenses.
You cannot use an estimate based on average hours, you must keep a written record such as a timesheet or diary to document the hours worked from home. The record of actual hours worked from home needs to be documented from January 2023.
Failure to maintain records will mean if audited the ATO will decline any working from home claim.
You can find out more detailed information on the ATO website – Working from home, deductions you can claim