ATO confirms $1,380 tax change for millions of Aussies: 'Updated'

"The fixed rate work from home deduction has been increased from 67 to 70 cents per hour, providing a larger tax deduction for Australian taxpayers."

"The new fixed rate for work-from-home deductions, effective July 1, 2024, allows Australians to claim 70 cents per hour, increasing potential tax returns."

The Australian Taxation Office (ATO) has raised the fixed rate work-from-home deduction from 67 to 70 cents per hour, effective from July 1, 2024. This allows taxpayers to claim a higher deduction for their working from home expenses, potentially increasing their tax returns. For instance, working 38 hours a week can now yield a total deduction of $1,383.20, compared to $1,323.92 under the previous rate. The rate covers various expenses, simplifying the process for taxpayers.

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