Exactly what you can and cannot claim on 2022 tax.

“And it doesn’t matter if your job has said whether you have to wear them or not – if you choose to because of that closeness, then you can claim them.”

Can I still claim to work from home?

Just like last year, you can declare working from home as a deductible expense; and there are the same two ways to go about it, Melissa says.

The easiest way – where you can claim 80 cents an hour by simply calculating how many hours you worked from home.

Or if you think you spent more than that on things like internet, a desk, or other WFH equipment, you can claim 52 cents per hour for working from home, plus those other costs.

Fuel?

Yes, now we come to the most expensive thing (right now): fuel. Can you claim it? Actually it depends.

“If you commute between jobs, use your car to see clients, or use your car to go from your workplace to study, then you can claim your car miles or a percentage,” Melissa said.

“But if you’re just traveling from home to work, even if your home is now your place of work for some of the time, that’s not considered work travel.”

This year the ATO came out and said that with the rising cost of living they were going to reduce the number of people trying to claim [that] as a deduction. That includes your car, Melissa says.

“You have to be very careful [when claiming it],” she added.

Listen to the entire episode of The Quicky with Melissa Brown here. The message continues after the audio.

Crypto and shares.

Have you entered crypto in the last 12 months? There are cases where you have to claim it.

“If you bought crypto and are holding it, at this point it’s a loss or profit on paper, you don’t have to put anything on your tax return,” he said. Melissa.

“But when you sell it – so if I bought crypto last year and sold it before June 30, I have to report that profit on my tax return, the same way I would do with stocks.”

“The same rules apply if you’ve held it for more than 12 months – you can potentially get a 50% concession on that profit, which means you only declare half,” she added.

The same rule applies to shares.

If you purchased shares through a trading app and they paid you a dividend or distribution, then you will receive a tax slip from them which you will need to report on your tax return.

Melissa had one last tip before you add up all your expenses.

“The tax office said they are particularly looking for people who are overclaiming this year, so be very careful,” she said.

“The last couple of years when COVID happened, they took a little softer approach, [but] it is now over.

“If you’re reckless you can get fined and that fine can be 50, 100, 200 or 300 per cent whatever your refund is. Or in serious situations there’s potentially jail time.”

You heard it here – get that feedback, but don’t be cheeky about it.

Happy financial year!

Feature image: Getty/Mamamia.

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