Enter for your chance to Win one of 4 x Pilot Juice Up Pilot packs worth $59.89
The Tax Time Pilot pack includes:
3 x Pastels (RRP $4.99 each)
3 x Metallics (RRP $4.99 each)
4 x Everyday Colours (RRP $4.99 each)
1 x Pilot Pen Case (RRP $9.99)
Tax Saving Tips for those Working from Home and Small Businesses
When it comes to working from home, there are tax benefits to be had by bulk purchasing items such as pens and stationery so you have a ready-supply throughout the year. In fact, Pilot Pen Australia has seen a huge jump in the demand for pens with people WFH looking for their own preferences rather than being stuck with what's in the office stationery cupboard. If you would love to invest in a smart fountain pen, you can also claim this on your tax. Here, tax expert, Mark Chapman, director of Tax Communications at H&R Block Australia, explains what you can claim.
1 Bulk purchasing benefits - provided it is for work-related use, you can claim a tax deduction for all stationery purchases in the period in which you make the purchase. "Pre-ordering" (ie, ordering before EOFY for the next tax year) is a very sensible strategy for saving on tax this year, though the downside is that you won't need as much stationery next financial year and won't be able to claim a tax deduction next year as a result!
3. How much tax can you claim for stationery? - provided the stationery is used exclusively for work-related or business purposes, there is no limit to what you can claim. If certain items are used partly for work use and partly for private use, you can claim the work-related proportion of the cost.
4. Can you claim for a high-end item such as a premium fountain pen? Yes, provided the item is used for work-related purposes you can claim a tax deduction for the cost. The ATO doesn't set a limit on how much you can spend on each item so premium fountain pens are allowable.
5. What else can you can claim when WFH?
If you work from home, you can claim a tax deduction for the work-related proportions of household costs such as:
- Heating, cooling and lighting bills
- Costs of cleaning your home working area (including cleaning products or payment for a domestic cleaner if required)
- Depreciation of home office furniture and fittings
- Depreciation of office equipment and computers
- Costs of repairing home office equipment, furniture and furnishings
- Small capital items such as furniture and computer equipment costing less than $300 can be written off in full immediately (they don't need to be depreciated)
- Computer consumables (like printer ink) and stationery
- Phone (mobile and/or landline) and internet expenses
Ideally, you should have a specific room set aside as a home office. If you are using a room with a dual purpose (e.g. dining room), or a room shared with others (e.g. lounge room) you can only claim the expenses for the hours you had exclusive use of the area.
To pick the perfect pen range for work or play to set you up for the new financial year ahead, visit: www.pilotpen.com.au. To find out more about your WFH or small business tax benefits, visit:: https://www.hrblock.com.au/
