During these times where you may be working from home more than usual (either by choice or not), we want to make you aware of some expenses you should keep track of, that you may be able to claim at tax time.
Home office. – either claimed at 52 cents per hour or based on apportionment of expenses (see footnote)
Home internet. – an apportionment of costs based on computer diary maintained for one month
Home telephone. – an apportionment of costs based on computer diary maintained for one month
Mobile Phone. – an apportionment based on actual allocation from one month’s billing
Home computer, laptop computers, Ipads and similar plus any finance or lease costs if financed. – an apportionment of costs based on computer diary maintained for one month
Computer accessories and equipment. – similarly based on computer diary apportionment
Printing, stationery and similar. - Specifically used for income related purposes
Office desks and chairs. – a depreciation allowance apportioned based on usage for income related purposes will apply
Please keep receipts, and diary records where required, as applicable to all of the above.
Home office expenses can be more complicated. We have attached details of home office expenses for your information.
When you are organising your 2020 tax information to send to us, please provide details as outlined above where applicable. If you have any questions, as always please don’t hesitate to contact us.