Individual tax returns for financial year ending 30/6/2022 are now able to be processed and lodged with the ATO.
If you are ready to complete your tax return, please reach out to a member of the Arum Team to begin this process!
If you are still preparing your information there are a few things not to forget!
- Working from home deductions – If you have been working from home there is a couple of different methods which you will be able to use.
- The simple method calculates how many hours you have worked from home and gives a deduction of 80c per hour and includes all costs.
- Alternatively, we can use the more complex method to evaluate your total work from home spend including but not limited to
- Electricity (Work from home portion)
- Phone and internet
- New equipment
- Travel – if you use your own car from work
- Total Km’s travelled for work
- Capital Gains
- Any selling of shares or crypto
- Selling of a property
- any other item purchased with the view of it appreciating
There are many other specific deductions that may be relevant for yourself, so please send an email to firstname.lastname@example.org to book an appointment with a member of the Arum Advisory team.