Belinda Raso, a tax expert, has identified common mistakes Australians make on their tax returns that can lead to reduced refunds. Many taxpayers rush into their filings without proper documentation or understanding of deductions available to them. Raso highlights that while the fixed rate method for claiming work-from-home expenses is popular, it often leads to missing out on additional claimable items like computer equipment or office furniture. This oversight can cost individuals hundreds of dollars each year in lost deductions, urging taxpayers to be meticulous in their claims.
"A big one is that we automatically go for a shortcut and a shortcut is never in taxpayers' favour," she said.
"People that are working from home, even if they are hybrid, are losing hundreds of dollars per year on this alone."
"So all of your computer equipment, the hardware, the software, your cords, cables, extensions, powerboards, your furniture, everything in that home office is going to be claimable."
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