Hi everyone,
I built myself a PC to allow working from home (I am a tutor). All the parts were purchased new and I have receipts for all of them. During the lodgement, where exactly (or should I say how exactly) do I claim for these expenses?
Happy to provide more info as I am new to filing the tax return myself, have done only once last year where all such expenses were not there
thanks! Would it be filled under deductions?
Yes, under work expenses - depreciation. I think there is even a depreciation calculator.
thank you!
(with all dues respects) given your seemingly lack of knowledge on taxation issues it may well be worth investing in getting your tax return done by a professional. Conceivably they will find other legitimate deductions to more than offset their costs.
Thanks @ocker! I was thinking about it. Not sure how much they are going to charge given that the return I am expecting is not beyond $500 :D
$50 - $100 for a basic tax return would be the going rate.
Can also claim the cost of this next year.
There is no need to waste money on an accountant, unless you're doing something complicated like setting up a family trust or something.
Filing taxes through My.gov is incredibly easy, and a lot of things are pre-filled.
You just need to read up a little bit about deductions on the ATO website, where again, the information is presented quite clearly.
Add the cost of it all together, apportion for private use then depreciate from date of purchase / build.