Tax strategies 2024: How to save cleverly when working from home!

Tax strategies 2024: How to save cleverly when working from home!

The tax situation in Austria will be particularly exciting at the end of 2024, as there are numerous opportunities to claim expenses and minimize the tax burden. Given the sharp increase in the cost of living, many are looking forward to the opportunity to save on taxes. Wilfried Krammer from Deloitte Austria emphasizes that private individuals should take a close look at their expenses. Since 2024, the latest regulations have made it possible to deduct up to 1,260 euros annually via the home office flat rate, whereby six euros can be charged per working day in the home office, regardless of whether there is a separate work room or not, as reported on the Finanzfreak website.

Tax advantages through home office regulations and donation deductions

With the introduction of the home office allowance, employees have benefited significantly from the recent tax changes. From 2024, employees who have worked from home for at least 26 days will be able to claim the costs of ergonomic furniture for tax purposes. In addition, expenses for catastrophe damage, such as flood or storm damage, can be taken into account in full as extraordinary burdens, which is of great importance for many after the weather-related damage in 2024. These regulations not only provide clarity, but also financial relief for those affected.

In addition, there are new developments regarding donation deductions that are also relevant for the coming year. Donations to beneficiary institutions can be deducted, and the maximum limit for deductible donations has been increased. Krammer points out that the tax deduction for expenses for the thermal and energy renovation of buildings and the necessary investments to improve heating systems can also be taken into account for tax purposes, which should please many homeowners. These comprehensive innovations make 2024 an important year for tax relief in Austria.