Many Australians now working from home will find things a little easier at tax time thanks to the Nationals in Government.
Federal Nationals Member for Parkes Mark Coulton welcomed temporary arrangements announced by the Australian Tax Office (ATO) that will make it easier for Australians to claim deductions for working from home due to COVID-19.
“Taxpayers working from home may now claim a rate of 80 cents per hour and will only be required to keep a record of the number of hours they have worked from home, rather than needing to calculate specific running expenses,” Mr Coulton said. “This will apply for expenses incurred between March 1, 2020 and June 30, 2020.
“You will still be able to make a standard working from home claim using the two standard approaches, if you wish to do so. I encourage those requiring further clarification on their individual circumstances to seek advice from their accountant.”
https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Home-office-expensesThose needing urgent assistance with their tax due to COVID-19 can contact the ATO’s Emergency Support Infoline on 1800 806 218 or visit www.ato.gov.au.
The short cut deduction method will make it easier for many Australians who are working from home for the first time due to COVID-19 when it comes to accurately completing their tax return.
The ATO has undertaken to review these arrangements in line with COVID-19 developments to see if they are required for the next financial year.
This is yet another demonstration of how the Nationals in Government at every level are working to keep Australians in jobs and businesses in business, and to build a bridge to recovery on the other side.