Money Magazine

your Stake claim

The tax office will receive a barrage of tax claims from July 1, as people experiencing financial stress try to get refunds as soon as possible.

Refunds may be higher this year, thanks to the new working-from-home deductions, and if you’ve lost work or income you may get a refund from the higher tax paid during the early part of the financial year.

The new deduction for people working from home is set at 80c an hour. You need to keep a record of hours worked but no further documentation, such as receipts.

Mark Chapman, H&R Block tax specialist, says that as a general rule people will get the highest deductions if they can claim actual costs such as phone, internet, heating, cleaning and

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