What now? Where to get help if you need it

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LINDSAY BROWN & ASSOCIATES


JobKeeper 2.0

 

Cashflow Boost Payments

 

JobTrainer

 

State & Territory Based Support

 

Help for Individuals

Covid-19 and your SMSF

 

We have created a brief guide to understand it all. 


 
CLICK TO VIEW GUIDE

Your questions answered

During lock down I have had to work from home. I’ve set up a full home office with paintings, plants, a desk, computer equipment, a water tower and a sculpture. I presume I can claim everything I have purchased for this office and claim part of my mortgage and running costs?
 
In general, home office expenses are designed for those who run their business out of home. If you are merely working from home and not running a business at home, then it’s unlikely you will be able to claim occupancy expenses such as mortgage interest or rent. Keep in mind that if you claim occupancy costs, this will impact on your access to the CGT main residence exemption. 
 
The water cooler is unlikely to be deductible as food and drink is considered to be private in nature. The items that beautify your office will generally only be deductible if they are displayed in open viewing areas in premises used for income producing purposes including reception areas, waiting rooms and foyers.
 
If you are working from home and have set up a home office for this purpose, you can claim a deduction for your expenses based on the 80 cents per hour short cut method, the 52 cents per hour method (which excludes phone, internet, or the decline in value of equipment which are all claimed separately), or the actual method.
We will keep you updated as new announcements are made
-  LBA
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