Earn
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.
About the author
About the author
Tax refund
ATO set to improve comms skills after review
Australia’s tax collector has been told to get better at dealing with complaints, appeals and the rights of taxpayers. ...Read more
Tax refund
Late lodgers face fines but aren’t completely out of luck
It usually pays to lodge your taxes on time, but you have a few options if you miss the deadline. ...Read more
Tax refund
Side hustlers should take care when it comes to tax
Both side hustlers and more traditional SMBs need to think ahead when it comes to staying on top of their tax obligations. ...Read more
Tax refund
The ATO is targeting side hustlers: Here’s what you need to know
If you don’t keep on top of what your side hustle means for your tax obligations, you’re asking for trouble. ...Read more
Tax refund
Why your tax return could be better than usual this year
If there was ever a year when it was worth doing your taxes on time, it’s this one. ...Read more
Tax refund
ATO issues tax tips for first-time share and ETF investors
The ATO has offered a helping hand to first-time ETF investors facing the burden of lodging their tax returns. ...Read more
Tax refund
The tax trick that property investors need to get their renovation deductions in order
Knowing the difference between renovations and repairs can mean the difference between a timely tax return and an audit by the ATO. ...Read more
Tax refund
What makes a good tax?
With the economy going through an uneven recovery, an industry expert has highlighted the current failures of the tax system and what makes a good tax. ...Read more
How the post-lockdown period will influence property, what the soaring NFT market means, and defining financial wellness
Listen now
APRA’s mortgage crackdown, the power of DeFi and last-minute tax tips
Listen now
What to expect as the end of lockdown looms? Will the Stage 2 tax cuts boost your tax return? Where should investors be looking as the economy reopens?
Listen now
Could property prices inflate by another 20%? What’s happening in recent dividend announcements? Did your fund fail the YFYS test?
Listen now
Tax refund
ATO set to improve comms skills after review
Australia’s tax collector has been told to get better at dealing with complaints, appeals and the rights of taxpayers. ...Read more
Tax refund
Late lodgers face fines but aren’t completely out of luck
It usually pays to lodge your taxes on time, but you have a few options if you miss the deadline. ...Read more
Tax refund
Side hustlers should take care when it comes to tax
Both side hustlers and more traditional SMBs need to think ahead when it comes to staying on top of their tax obligations. ...Read more
Tax refund
The ATO is targeting side hustlers: Here’s what you need to know
If you don’t keep on top of what your side hustle means for your tax obligations, you’re asking for trouble. ...Read more
Tax refund
Why your tax return could be better than usual this year
If there was ever a year when it was worth doing your taxes on time, it’s this one. ...Read more
Tax refund
ATO issues tax tips for first-time share and ETF investors
The ATO has offered a helping hand to first-time ETF investors facing the burden of lodging their tax returns. ...Read more
Tax refund
The tax trick that property investors need to get their renovation deductions in order
Knowing the difference between renovations and repairs can mean the difference between a timely tax return and an audit by the ATO. ...Read more
Tax refund
What makes a good tax?
With the economy going through an uneven recovery, an industry expert has highlighted the current failures of the tax system and what makes a good tax. ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
