Working from home because of coronavirus? You’re now eligible for a new 80 cents per hour tax shortcut

Working from home because of coronavirus? You’re now eligible for a new 80 cents per hour tax shortcut

Claiming tax deductions for working from home due to coronavirus is being made easier. The Australian Taxation Office (ATO) is introducing a new method which will allow people to claim 80 cents per hour for all their running expenses, rather than needing to calculate costs for specific running expenses. The change will apply from March 1 to June 30, after which the ATO will review the arrangement for the next financial year as the COVID-19 situation progresses. “If you choose to use this shortcut method, all you need to do is keep a record of the hours you worked from home as evidence of your claim,” ATO assistant commissioner Karen Foat said. “We needed something to help people through this time to make it easier to work out how much they can claim. “We think the 80 cents per hour method is much simpler for people.

Information

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Integer adipiscing erat eget risus sollicitudin pellentesque et non erat. Maecenas nibh dolor, malesuada et bibendum a, sagittis accumsan ipsum.