What's new for 2025 tax time?
Motor Vehicle cents per kilometre claim – The motor vehicle cents per kilometre claim will be 88 cents claimable per kilometre this year, raised from 85 cents last year.
Working from Home claim - When claiming a deduction for working from home this tax time, there are a couple claim methods you can choose from. You can use the simple option of claiming 70 cents for each hour you work at home (raised from 67 cents last year), and this will cover home and mobile internet expenses, energy expenses, as well as stationary and computer consumables. To claim your deduction this way you will need a record of the number of actual hours you work from home during the income year e.g. a timesheet, roster or diary, and at least one record for each of the additional running expenses you incur that the rate per hour includes. Read more about the Home office fixed rate method here: Fixed rate method | Australian Taxation Office
To claim actual costs for home office expenses, you will need to keep a record showing the number of hours you work from home during the income year e.g. a timesheet or spreadsheet, as well as a continuous 4 week period that represents your usual pattern of working at home, e.g. a diary. You must also keep records showing the additional running expenses you incurred while working from home, and how you worked out the amount of your deduction. For assistance with calculating this, you can use the ATO Home office expense calculator to work out your claim amount. That calculator can be found here: Home office expenses calculator | Australian Taxation Office. Read more about the Home office actual cost method here: Actual cost method | Australian Taxation Office
STP finalisations are to be done by 14/07/2025, so individual payment summaries should be tax ready by then.
Please refer to the ATO website for a more extensive list of changes this tax year:
What's new for individuals | Australian Taxation Office
As the Australian Taxation Office continues to raise the degree of their audit activity, I strongly recommend that you give attention to the documentation requirements concerning the claims that you are likely to make in the 2025 income year. This means ensuring that you have your receipts or other substantiating documents on hand to justify your claims.
Tax Planning
The tax office have produced a list of occupation and specific industry guides with 39 occupations already listed and definitely more to come. These guides specify what claims the tax office expect you to make and what they deem unreasonable. They are quite detailed and I definitely recommend looking through the list to see if your occupation is listed so you can know what view the ATO have and what they expect to see in your tax return. Occupation and industry specific guides | Australian Taxation Office
The good news for you is that I continue to be focused on keeping up to date with the ever changing taxation landscape whilst getting the best results possible for you.
I continue to strive to make my service exceptional – so contact me to book either your: in-home, telephone, email or drop-and-go tax appointment at your earliest convenience. I look forward to hearing from you soon.
Motor Vehicle cents per kilometre claim – The motor vehicle cents per kilometre claim will be 88 cents claimable per kilometre this year, raised from 85 cents last year.
Working from Home claim - When claiming a deduction for working from home this tax time, there are a couple claim methods you can choose from. You can use the simple option of claiming 70 cents for each hour you work at home (raised from 67 cents last year), and this will cover home and mobile internet expenses, energy expenses, as well as stationary and computer consumables. To claim your deduction this way you will need a record of the number of actual hours you work from home during the income year e.g. a timesheet, roster or diary, and at least one record for each of the additional running expenses you incur that the rate per hour includes. Read more about the Home office fixed rate method here: Fixed rate method | Australian Taxation Office
To claim actual costs for home office expenses, you will need to keep a record showing the number of hours you work from home during the income year e.g. a timesheet or spreadsheet, as well as a continuous 4 week period that represents your usual pattern of working at home, e.g. a diary. You must also keep records showing the additional running expenses you incurred while working from home, and how you worked out the amount of your deduction. For assistance with calculating this, you can use the ATO Home office expense calculator to work out your claim amount. That calculator can be found here: Home office expenses calculator | Australian Taxation Office. Read more about the Home office actual cost method here: Actual cost method | Australian Taxation Office
STP finalisations are to be done by 14/07/2025, so individual payment summaries should be tax ready by then.
Please refer to the ATO website for a more extensive list of changes this tax year:
What's new for individuals | Australian Taxation Office
As the Australian Taxation Office continues to raise the degree of their audit activity, I strongly recommend that you give attention to the documentation requirements concerning the claims that you are likely to make in the 2025 income year. This means ensuring that you have your receipts or other substantiating documents on hand to justify your claims.
Tax Planning
The tax office have produced a list of occupation and specific industry guides with 39 occupations already listed and definitely more to come. These guides specify what claims the tax office expect you to make and what they deem unreasonable. They are quite detailed and I definitely recommend looking through the list to see if your occupation is listed so you can know what view the ATO have and what they expect to see in your tax return. Occupation and industry specific guides | Australian Taxation Office
The good news for you is that I continue to be focused on keeping up to date with the ever changing taxation landscape whilst getting the best results possible for you.
I continue to strive to make my service exceptional – so contact me to book either your: in-home, telephone, email or drop-and-go tax appointment at your earliest convenience. I look forward to hearing from you soon.
Liability Limited By A Scheme Approved Under Professional Standards Legislation
Liability Limited By A Scheme Approved Under Professional Standards Legislation