I'm thinking of getting a Telstra mobile plan and hotspot to it for WFH (using my corporate laptop)
For personal use, I'll connect to my existing 5G home internet. Thoughts? Thanks
Edit: I read the ATO page on internet and it seems I can.
Can I Charge My Internet 100% as Tax Deduction if It's Only Used for WFH?
mrjayviper on 27/12/2022 - 22:15
Last edited 27/12/2022 - 23:02 by 1 other user
Last edited 27/12/2022 - 23:02 by 1 other user
Comments
If you can prove it then yes
Why.
claim a portion of both?
Sounds like a waste of money if you already have a home connection.
Yes you can but if you have an existing unlimited home internet connection, you're better off using that for work, keeping a log for one month of your internet usage for work and then claiming the %.
Even if you claim 100% of a second connection, you're not getting back 100% of your costs.
Do you browse ozbargain while at work
Yeah, but I only search for deals on work related equipment
If WFH is OnlyFans, yes
Can you claim a percentage of your house by the square metre used for WFH office too?
Asking for a friend…
Maybe interest on mortgage
Possible CGT trigger
lol was joking but I wonder if people actually do this.
Username checks out
You can claim what's called occupancy expenses IIRC if your self employed or your employer doesn't provide you with an alternative office. Part of your water, electricity, mortgage interest, insurance, council rates etc based upon the area of your home office and it's usage purely for WFH.
Worth noting that the ATO's likelihood of asking you for comprehensive breakdown logs is low. As long as you're not taking the piss in a way that busts their bell curves, you could be quietly confident that you won't get hauled in
Isnt there a formula to cover ALL wfh costs and we just need to specify the hours spent wfh
There was, for the last three financial years, but it ended June 30 this year. Now it's back to the old way ie calculating costs individually for electricity, internet, phone etc.
If the sums add up to you getting more money in the bank…. just do it!.
Getting another plan of internet will never get you more money than using your existing unlimited plan.
Ex. 5g Home internet $60
+ 2nd 5g internet $50 tax deductible fully is only approx 40-47% income tax i.e $20 tax refundYou still end up paying $110 with $20 tax refund
Whereas if you just deduct the home internet you get some of your $60 back
Just like OzBargain, this is exactly how it works. We buy things that we don't need to save on the discount. You can spend more on an additional internet plan to save on your tax deduction.
Is this to get a JB hi-fi gift card? Even if you're paying the top tax bracket the discount is minimal.
I work from home and I claim ⅓ of my internet expenses on taxes — and have done so for few years now. As others have said the probability that the ATO will ask you for usage logs is extremely low.
Though in the previous years when there were covid lockdowns, my accountant explained that the shortcut method yielded better tax returns. You cannot claim internet expenses the normal way if you used this method.
The ATO however killed the shortcut method for this year onwards, it now requires you to keep some records
* records of all hours you work at home
* receipts for all depreciating assets or equipment you use when you work at home
* records of your personal and work-related use of assets.yes
Yes