Home Sydney Tax 2024: 4 things Aussies should quickly buy before EOFY

Tax 2024: 4 things Aussies should quickly buy before EOFY

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Tax 2024: 4 things Aussies should quickly buy before EOFY

Headphones and Earphones

If your job requires the use of headphones or earphones, you can claim them as a tax deduction.

“Consider how often we’re on our phones. If you need to communicate with clients frequently and use your phone a lot,” Raso explained.

Determine the percentage of time you use your headphones or earphones for work. Alternatively, Raso suggests buying a separate pair exclusively for work use.

Handbags

You might be aware that you can claim laptop cases, satchels, and briefcases on your taxes, but you can also claim a handbag.

“If you purchase a handbag specifically for work and don’t keep personal items in it, you can claim it,” Raso said.

Raso recommends having a separate smaller clutch for personal items like keys and lunch. Use common sense regarding the cost, as very expensive bags may attract attention from the ATO.

Subscriptions

You can claim subscriptions related to your job, such as relevant magazine subscriptions, Canva, and antivirus subscriptions.

“People working from home often forget that, even when claiming a fixed rate method, there are other items they can claim,” Raso told Yahoo Finance.

“Any subscriptions used for your job can be claimed. If there’s a personal element, just deduct the non-business use.”

WFH Equipment

Lastly, consider claiming any work-from-home equipment or programs you need, including items like a laptop stand, monitor stand, and arms.

“Think about everything involved in your home office if you’re working from home. It’s not just the hardware, but also the software, like Microsoft programs,” Raso said.

“Don’t forget about cords and cables, power boards, extension cords, double adapters, HDMI cables, and ethernet cables—items you wouldn’t normally purchase if not working from home can be claimed on your tax return.”