Home Office 2024 and Ongoing

The ATO has made major changes to the requirements to claim home office expenses.  The requirements are quite onerous but if you take the time to work through this spreadsheet you should avoid their traps.  It is a shame Part IVA doesn’t apply in reverse because the new rules certainly seem to be a scheme with the dominant purpose of a tax benefit to the ATO!    For an explanation of the changes read this blog https://bantacs.com.au/Jblog/urgent-warning-start-a-diary-of-your-home-office-use-now/#more-1259    If you think it is worth continuing to try to claim for your home office then from 1^st March 2023 you need to keep your records the way it is set out and explained in this spreadsheet.  Regardless of whether you decide to use the actual cost method or the cents per hour rate, this spreadsheet has you covered and can help you decide which is better for you.

Please note that this replaces the Diary Template that was previously available on the BAN TACS site.