Maximise your Australian Tax Return 2024

[@percyb.9514]

thanks Dan very helpful videos. When working from home why we can't claim rent? in addition to the fixed rate method?

[@MoneywithDan]

In limited circumstances you might be able to. The ATO provides more guidance on deductibility of occupancy expenses here: www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/deductions-you-can-claim/working-from-home-expenses/occupancy-expenses

[@KSwanny]

thanks mate, super helpful

[@MoneywithDan]

Thank you!

[@renan7907]

For claiming deductions for home office do I need to keep receipts for using the 67c fixed rate method?

[@MoneywithDan]

According to the ATO, To claim your working from home deduction using this method, you must keep: a record of the number of actual hours you work from home during the entire income year - for example, a timesheet, roster, diary or other similar document PLUS at least one record for each of the additional running expenses you incur that the rate per work hour includes - for example, if you incurred electricity and stationery expenses keep one quarterly bill for your electricity expenses and one receipt for your stationery expenses. More information here www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/deductions-you-can-claim/working-from-home-expenses/fixed-rate-method-67-cents#ato-Recordkeepingforthefixedratemethod

[@FrankieGoesPlaces]

Hi what do you enter on the net capital lost unapplied on the tax schedule (the next page that comes up when u select "If your capital gain or lost is more than 10k"). I have a total lost of 20k for this year and 10k previous years. Do i put the total lost only for this year only or both losses? (this year and previous year)?

[@MoneywithDan]

Does it have a label number that you a referring to?

[@KSwanny]

dude what shitcoins have you been buying?😄

[@dfpca2007]

Thanks so much. Happy EOFY!

[@MoneywithDan]

Same to you!

[@tommystrelnikoff5753]

Thanks tax with dan. Youve gotten a subscibe

[@MoneywithDan]

Thanks so much!