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Claiming a deduction for a laptop

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Newbie

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Hi there,

My current laptop is old and in need of replacing. I am currently working from home and use my laptop for work on a 65% basis.

I'm looking to purchase a $800 refurshised laptop that suits my needs but I'm unsure how the whole claim process works and the depreciation factor as well. Can someone please explain to me in simple terms what I could expect to get back based on the information provided with the working out formulas. Also, since this is now the middle of June, (the final 2 weeks of the FY), how does the keeping of records now work, noting down my useage for 4 weeks since its so late. Thank you.

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Hi @geofmath67 ,

Your best option is to consider home office expenses , to look out the best method that fits your situation, and you can legitimately claim. Be aware that the shortcut method of 80c per hr accounts within that 'the decline in value of equipment and furniture' eg computers/laptops used for work (so you can't claim computer equipment using this method). If you want a easier way to calculate your home office expenses, you can use the fixed-rate (as it was before 'covid-19') of 52c per hour you work from home, and you can account for depreciation of a laptop. On the above link, it gives examples of people working out which method is best for them - it can depend on how much the equipment is, and how much you are using it for work (the depreciation and capital allowances tool could be useful if using fixed rate or actual costs method).

 

Please note that this is a community forum, and advice is general in nature. You may want to consider getting taxation advice eg tax agent, or if you qualify, getting assistance through the Tax Help program .

 

Thanks,

 

1 REPLY 1
Highlighted

Best answer

Community Support

Replies 0

Hi @geofmath67 ,

Your best option is to consider home office expenses , to look out the best method that fits your situation, and you can legitimately claim. Be aware that the shortcut method of 80c per hr accounts within that 'the decline in value of equipment and furniture' eg computers/laptops used for work (so you can't claim computer equipment using this method). If you want a easier way to calculate your home office expenses, you can use the fixed-rate (as it was before 'covid-19') of 52c per hour you work from home, and you can account for depreciation of a laptop. On the above link, it gives examples of people working out which method is best for them - it can depend on how much the equipment is, and how much you are using it for work (the depreciation and capital allowances tool could be useful if using fixed rate or actual costs method).

 

Please note that this is a community forum, and advice is general in nature. You may want to consider getting taxation advice eg tax agent, or if you qualify, getting assistance through the Tax Help program .

 

Thanks,