the cost per unit of power used - refer to your utility bill for this information.If you would like to claim a deduction for the actual costs associated with these expenses, you will need to work out the following: Update: For FY23 the only methods available are the revised ' fixed-rate' or ' actual-cost' methods. The specialised recruitment firm Robert Half has developed a quick guide to creating a productive home office. There are also productivity benefits of establishing regular working from home hours. You can read more about this method here.Įstablishing regular hours that you work from home will help you track your hours and time spent working, making it easier to calculate these when claiming deductions like such. This method allows you to claim a deduction of 67 cents for each hour you work from home. The costs associated with your home office utilities are included as part of the ‘fixed rate’ method of claiming your home office running expenses, should you apply this method when preparing your income tax return. Occupancy expenses such as rent, mortgage interest, insurance and rates* Information Costs of using a room’s utilities such as gas and electricity Other running expenses including computer consumables (for example, printer paper and ink) and stationery ContentsĬosts of using a room’s utilities such as gas and electricityįull cost of office plant and equipment purchases such as desks, chairs, computers, and monitors that are up to $300 OR Decline in value (depreciation) for purchases that are greater than $300ĭecline in value (depreciation) of curtains, carpets and light fittings For more information on how you calculate your actual expenses, please refer below against each deduction type. In this article, we will break down the most common home office expenses to help simplify this process for you. Once you have established that you are able to claim a deduction for expenses that relate to the work you perform at home ( see this article on the types of tax deductions you can claim depending in particular circumstances), you will need to consider how each type of home office deduction is calculated. Suitable for: Anyone who works from home, but home is not your primary place of work
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