WORKING FROM HOME SHORTCUT
The Australian Taxation Office has announced special arrangements this year to make it much easier to claim your working from home expenses in your 2020 Tax Return.
The new shortcut arrangement will provide taxpayers with a rate of 80 cents per hour, and will only require you to keep a record of the number of hours worked from home in order to claim this deduction.
Only claims for working from home expenses after 1 March 2020 will be calculated in this way, any expenses prior to 1 March 2020 must be calculated using the pre-existing working from home approach and requirements.
Speak to our Taxation Consultants if you have any questions regarding this arrangement, or you can find more information from the ATO here.