Home Office Expenses Shortcut Claiming Method Extended
Still working from home? The temporary shortcut method for calculating home office expenses has been extended to 31 December 2020, a 3 month extension on the previous expiry of the end of September.
The 80 cent claiming method came into effect from March in response to the large quantity of population working from home due to COVID-19.
This extension comes in response to the second wave occurring in Victoria where working from home has remained a necessity.
The ATO has also mentioned that the December extension may have a further extension.
It is vital to understand that the 80 cent claiming method cannot be paired with claiming for individual items such as a desk chair or desk.
Why you could use a tax professional
Accounting professionals are trained to understanding the ins and outs of tax, and helping you not pay a cent more than you have to.
Not to mention that you can avoid the late submission fees by having an accountant process your return, now that the deadline to lodge a tax return yourself has passed for 2020.
Contact our team today for an obligation free consultation.
Do you know how the Federal Budget announcements will affect you?
Now that the Federal Budget 2020 has been announced, you may be asking yourself, how will these changes affect me?
We’ve put together all of Budget information in one place, and included our live webinar recording where our experts discuss the key changes and possible implications and opportunities for you post-announcement.
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