Deductions Record Keeping When Living At Home

Question

 · Accepted Answer

DanielleATO · Answer

That's great to hear you're keeping track of your work hours already. If you are using the fixed rate method (https://www.ato.gov.au/Media-centre/Media-releases/ATO-announces-changes-to-working-from-home-deductions/#:~:text=Record%20keeping,method%20from%201%20March%202023.) for the record keeping (https://www.ato.gov.au/individuals/income-and-deductions/deductions-you-can-claim/working-from-home-expenses/fixed-rate-method---67-cents/#Recordkeepingforthefixedratemethod). When claiming deductions and the records you need to keep. Records must be kept for each expense taxpayers have incurred which is covered by the fixed rate per hour. For example, if taxpayers use their phone and electricity when working from home, they must keep one bill for each of these expenses. So, if you can keep a copy of the bills that should be enough for documentation of the expense. When using the fixed rate method, we have worked out the rate per hour working from home should cover your energy expenses.

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