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WFH 80¢ per hour tax concession to continue
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
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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