Skip to main content

Tax expert reveals how to maximise your return before the October deadline - and the WFH deductions too many Australians are missing out on this year

Australians who've been working from home during the coronavirus crisis are expected to miss out on $1.1billion in unclaimed expenses. 

Experts say taxpayers miss out on what they are owed by the taxman because they're either uniformed or trying to save time. 

Almost six million workers were been forced to get their job done from home during the height of the pandemic - about half of Australia's entire workforce.

But as a result, taxpayers are entitled to claim a range of new expenses to partially offset the once-in-a-lifetime upheaval.

If you want to maximise your returns before the October 31 deadline, there are a few things you should know. 

Expert Andrew Chia, from TaxFox, told Daily Mail Australia the most important thing to keep in mind is that saving time will not save you money.

Australians who've been working from home during the coronavirus crisis are expected to miss out on $1.1billion in unclaimed expenses

Australians who've been working from home during the coronavirus crisis are expected to miss out on $1.1billion in unclaimed expenses

The Australian Tax Office has introduced an 80 cents per hour shortcut for anyone who was obliged to perform services at home.  

'We advise our clients to not use the shortcut,' Mr Chia said.

Working from home tax claims simplified

Every person working from home in a house or apartment will be entitled to claim a flat rate of 80 cents an hour

It will cover March 1 to June 30, 2020

They will also be allowed to claim 52 cents an hour for heating, lighting, cleaning and depreciation of furniture and computers

Source: Australian Taxation Office 

'If you are an office worker performing duties at home the main claimable expenses are your running costs like electricity, gas and other utilities like internet.' 

Mr Chia strongly suggests you calculate the costs yourself or get a professional to assist because you're likely to be entitle to far more than 80 cents per working hour.

Anyone working from home can also claim computer, mobile phone and screen expenses, as well as any other equipment used for work.  

'If you have had to purchase a table, a chair, desk or if you had to add anything to make your home work space conform with Occupational Health and Safety requirements such as lights or lamps, it's deductible,' Mr Chia said.

Some of the lesser known items that are also claimable when working from home are plants, anti-glare reading glasses for looking at computer screens, and various home office essentials such as printer ink.

For those who didn't have the option to work from home, Mr Chia stressed that personal protective equipment is also tax deductible.  

'Healthcare workers and essential services workers had to continue to support our local communities and the broader economy by performing their services during the pandemic and obviously we appreciate them so much for that,' he said.

'And they may have had to purchase items to make themselves safe for work. So any masks and safety gear can be deducted if they are not provided by their employment.'

Essential services workers can claim protective equipment such as face masks and gloves

Essential services workers can claim protective equipment such as face masks and gloves

Those working from home may also be able to claim items like plants and printer ink

Those working from home may also be able to claim items like plants and printer ink

This also extends to essential workers who are travelling to and from work, not just at work.

With the economic uncertainty around the pandemic, Scott Morrison's government introduced a number of grants and support payments to cushion the surge in job losses. 

'People receiving JobKeeper and JobSeeker payments must be aware they also have to report that income as part of their tax return,' Mr Chia said.

Last year Australian workers missed out on $10billion in unclaimed deductions.

To make sure you don't miss out, Mr Chia says taxpayers should use technology to their advantage and get an tax app like TaxFox.

'If you have a systematic approach where you just take photos of receipts throughout the year, you won't miss out on deductions and it will save you time and effort,' he said. 

To make sure you don't miss out on any potential deductions, Mr Chia says taxpayers should use technology to their advantage

To make sure you don't miss out on any potential deductions, Mr Chia says taxpayers should use technology to their advantage

Popular posts from this blog

Study Abroad USA, College of Charleston, Popular Courses, Alumni

Thinking for Study Abroad USA. School of Charleston, the wonderful grounds is situated in the actual middle of a verifiable city - Charleston. Get snatched up by the wonderful and customary engineering, beautiful pathways, or look at the advanced steel and glass building which houses the School of Business. The grounds additionally gives students simple admittance to a few major tech organizations like Amazon's CreateSpace, Google, TwitPic, and so on. The school offers students nearby as well as off-grounds convenience going from completely outfitted home lobbies to memorable homes. It is prepared to offer different types of assistance and facilities like clubs, associations, sporting exercises, support administrations, etc. To put it plainly, the school grounds is rising with energy and there will never be a dull second for students at the College of Charleston. Concentrate on Abroad USA is improving and remunerating for your future. The energetic grounds likewise houses various

Best MBA Online Colleges in the USA

“Opportunities never open, instead we create them for us”. Beginning with this amazing saying, let’s unbox today’s knowledge. Love Business and marketing? Want to make a high-paid career in business administration? Well, if yes, then mate, we have got you something amazing to do!   We all imagine an effortless future with a cozy house and a laptop. Well, well! You can make this happen. Today, with this guide, we will be exploring some of the top-notch online MBA universities and institutes in the USA. Let’s get started! Why learn Online MBA from the USA? Access to More Options This online era has given a second chance to children who want to reflect on their careers while managing their hectic schedules. In this, the internet has played a very crucial in rejuvenating schools, institutes, and colleges to give the best education to students across the globe. Graduating with Less Debt Regular classes from high reputed institutes often charge heavy tuition fees. However onl

Sickening moment maskless 'Karen' COUGHS in the face of grocery store customer, then claims she doesn't have to wear a mask because she 'isn't sick'

A woman was captured on camera following a customer through a supermarket as she coughs on her after claiming she does not need a mask because she is not sick.  Video of the incident, which has garnered hundreds of thousands of views on Twitter alone, allegedly took place in a Su per Saver in Lincoln, Nebraska according to Twitter user @davenewworld_2. In it, an unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of the customer recording her. Scroll down for video An unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of a woman recording her A woman was captured on camera following a customer as she coughs on her in a supermarket without a mask on claiming she does not need one because she is not sick @chaiteabugz #karen #covid #karens #karensgonewild #karensalert #masks we were just wearing a mask at the store. ¿ o