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VikingOrange(Initiate)Initiate
14 June 2024

A few questions regarding what happens if I bought a new mobile phone now in mid-June, which will be split between work and private use. Assume the mobile phone cost $1000.


1 - If I claim WFH deductions using the Fixed Rate Method, can I still still claim a portion of depreciation on the physical mobile phone itself?


2 - If I buy a new mobile phone near the end of June 2024, does that mean for FY24-25, the effective asset life becomes 2 years instead of 3 years? Assuming I don't claim anything on the mobile for FY23-24.

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1,303 views
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Taxduck(Taxicorn)Taxicorn
15 June 2024

Under the fixed rate method you can claim the cost of depreciating assets.

https://www.ato.gov.au/tax-and-super-professionals/for-tax-professionals/tax-professionals-newsroom/claiming-working-from-home-expenses

If you purchase and have the asset ready for use before June 30 there would be some portion of the expense deductible this year. Effective asset life is from the date of purchase.(3 years).

If you don't claim this year that doesn't change the date of purchase or effective life, it only means you miss out on any deduction for 2023-24.

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Most helpful reply

Taxduck(Taxicorn)Taxicorn
15 June 2024

Under the fixed rate method you can claim the cost of depreciating assets.

https://www.ato.gov.au/tax-and-super-professionals/for-tax-professionals/tax-professionals-newsroom/claiming-working-from-home-expenses

If you purchase and have the asset ready for use before June 30 there would be some portion of the expense deductible this year. Effective asset life is from the date of purchase.(3 years).

If you don't claim this year that doesn't change the date of purchase or effective life, it only means you miss out on any deduction for 2023-24.

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WFH - How To Treat Deduction of Purchasing A New Mobile Just Before 30th June? | ATO Community