With the new financial year upon us, the ATO has made changes that could significantly impact your tax position—whether you’re working from home, running a small business, or upgrading your setup.

1. Work‑From‑Home Deduction Rises to 70¢/Hour

From 1 July 2024, the fixed rate method increased from 67¢ to 70¢ per hour — now covering energy, internet, phone, and stationery costs.

Reminder: Records of actual hours worked from home (not estimates) and at least one related bill per expense must be retained .

2. $20,000 Instant Asset Write-Off Extended

Small businesses with annual turnover under $10 million can continue to immediately deduct assets under $20,000 until 30 June 2025. This makes it easier and more cost-effective to upgrade equipment—ideal for tradies, freelancers, and growth-focused teams.

3. ATO’s Small Business Focus Areas

From April 2025, the ATO has sharpened its compliance focus on areas like non-commercial losses, capital gains tax concessions, business income versus personal income, and GST reg primary registrations.
They’re encouraging early error correction and good tax habits to reduce risk and stay compliant.

4. Updated Tax Time Tools & Resources

The ATO’s 2025 Tax Time Toolkits (for individuals, investors & small businesses) are now live — covering subjects like WFH expenses, CGT, motor vehicle claims, and more.
These downloadable guides offer clear, practical tips to ensure accurate lodgement and maximise returns.

How this helps you:

• Claim 70¢/hour accurately for your WFH setup, supported by proper records

• Take advantage of the $20,000 asset write-off before June 30

• Avoid ATO attention with smart, proactive compliance

• Use the ATO toolkits to lodge confidently and uncover every possible deduction

Action Steps:

1. Keep a detailed timesheet of hours worked from home with supporting bills

2. Use the instant asset write-off to update equipment before June

3. Familiarise yourself with ATO’s new focus areas and correct any errors early

4. Download and use the Tax Time Toolkits — they’re free resources designed to guide you