After a year of rate hikes and rising cost of living, most of us could do with a tax refund. Here are four things that could help you minimise the tax you pay. You may need to move quickly, though – some of these need to be acted on before June 30 in order for you to benefit.
1. Understand changes to working from home deductions
Things are a little different this year if you want to claim a deduction for working from home. The shortcut method, which was introduced in response to COVID, is no longer available. You now have two options – the fixed rate method and the actual cost method.
The ATO has made a number of tweaks to the fixed rate
