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More time at home means many Australians now have the opportunity to re-assess their lifestyle and spending habits and set some serious saving goals. So how can you actually go about it?

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In this episode of The nestegg Podcast, host Grace Ormsby is joined by Melbourne-based Reventon’s Billie Christofi to talk all things finance and the impact of isolation on our hip pockets.

In stage 4 lockdown, Billie shares the importance of going back to basics when it comes to budgeting, methods to re-assess spending habits, and some of the less conventional ways people can boost their wealth at this time.

Thanks Billie, for sharing your insights with the nestegg podcast team!

Have an investment story to share? Get in touch at [email protected] and you might get featured on an upcoming episode!

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WFH 80¢ per hour tax concession to continue

By Grace Ormsby

October 02 2020
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Earn

WFH 80¢ per hour tax concession to continue

By Grace Ormsby
October 02 2020

Workers yet to return to the office due to COVID-19 will continue to benefit under the extension of simplified working-from-home deductions up until 31 December 2020.

WFH 80¢ per hour tax concession to continue

By Grace Ormsby

October 02 2020
Share

Workers yet to return to the office due to COVID-19 will continue to benefit under the extension of simplified working-from-home deductions up until 31 December 2020.

A new statement from Assistant Treasurer Michael Sukkar has welcomed the further extension of the temporary arrangements put in place by the Australian Taxation Office (ATO).

The “shortcut method”, as it has been dubbed, enables taxpayers who are working from home to claim a flat rate of 80¢ per hour to cover all running expenses, in a bid to make it easier for these workers to claim on expenses incurred while carrying out work-related tasks.

It was initially brought in by the ATO back in April, as an early response to the pandemic, and in recognition of the thousands of workers required to stay home by COVID-19 restrictions.

Mr Sukkar said the shortcut deduction method is making it easier for many Australians who are continuing to work from home due to COVID-19 when it comes to accurately completing their tax return.

More information on the shortcut method can be found here.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

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