Working from Home Deductions – 2024 Tax Year

There are now only 2 methods to be used – Fixed Rate or Actual Costs.

Both methods use the number of hours that are worked from home, so it is essential that appropriate records are kept.

The Fixed Rate method of 67 cents per hour covers:

• Home and mobile internet or data expenses
• Electricity and gas expenses for heating cooling and lighting
• Stationery and computer consumables such as printer ink and paper

Actual Cost method includes costs for:

• Home and mobile internet or data expenses
• Electricity and gas expenses for heating cooling and lighting
• Stationery and computer consumables such as printer ink and paper
• The decline in value of depreciating assets – office furniture, phones and computers, laptops or similar devices

For this method, the expenses are to be apportioned when used for private and work as only work-related costs can be claimed.

For further information, please contact our office.