Due to new ATO guidelines/legislation regarding Work-Related/Business Expenses, the ATO scrutinizes several expenses more closely now.

One of the main changes is “home office expenses” (including the ATO fixed rate of $0.67 per hour, where you have worked from home).

There are two methods for claiming expenses for working from home (WFH) as follows:

FIXED RATE METHOD (ATO rate of $0.67 per hour) - covers electricity/lighting/heating/mobile/ internet/stationery/computer consumables

To claim this under this method could you please advise/provide the following information:

Home office –

1. Please advise the actual number of hours in total worked from home in 2023/24.
2. Please provide a copy of your diary/timesheet/similar documentation kept from 1 July 2023 to 30 June 2024.
3. If you have not kept any formal diary/timesheet records, please let us know, so we may send you a WFH hours template spreadsheet to complete.

NOTE: Your work-from-home activities must be substantive. Minimal tasks, such as occasionally checking emails or taking work phone calls while at home will not be considered substantive in nature, and therefore not eligible under this claim.

There are 2 methods to claim deductions:

Please upload the following documents for each property

• Annual rental agent summary
• Loan statements showing interest expense from 1 July 2023 to 30 June 2024
• QS Depreciation Report, if any
• Receipts for Rental property expenses:
   
  • Council rates for each property
  • Water for each property
  • Body Corporate fees for each property
  • Insurance
  • Repairs & maintenance
  • Land Tax

If you use cloud accounting software, please send your invitation to add us as accounts (if you haven’t already) to the following email address:

Xero – admin@asapsolutions.net.au
MYOB –  admin@asapsolutions.net.au
Quickbook –  admin@asapsolutions.net.au

If you use desktop accounting software, please email us your accounting data file to admin@asapsolutions.net.au