It’s tax time…
But unlike other years, due to COVID-19 having a massive impact on our personal circumstances, there have been some big changes to how we do our tax returns. According to the ATO, nearly everyone’s circumstances have changed.
Here is scoop of things to know.
What can you claim while working from home?
Working from Home – How much can I claim?
To simplify things, the ATO has released an easy short cut method to make a claim from your working-from-home expenses. The Work from Home expenses internet, telephone, electricity, heating and depreciation of office equipment. You can claim 80 cents per hour for every hour you have worked starting from 01st March 2020. Using this method is easy to comply and only requires a timesheet or diary of hours worked from home.
Multiple people living in the same dwelling can claim the rate, and there is no requirement to have a dedicated work-from-home space.
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