Something that is new for most of us this year is Working from Home.
So, the ATO has come up with a new way for you to claim your Home Office tax expenses in your income tax return easily and quickly by bundling all of your home office expenses into one... if you want to.
For this method, they have also wiped the “designated office” rule and are allowing more than one person in the household to claim home office tax expenses.
These rules only apply from 1 March 2020 to 30 June 2020 and you must keep a diary tracking all the hours you worked from home or use your timesheet to keep track.
UPDATE: The Work from Home Shortcut Method has now been extended to the 2021 Income Tax Year. You can now claim the shortcut method on your online income tax return from 1 July 2020 to 30 June 2021. |
Read: Why We Don't Like the COVID-19 Shortcut Method
So, in our online etax Return, you’ll now see an additional page dedicated to the new COVID-19 Home Office special.
Here’s a snippet of what you have to look forward to:
It’s time to get the work log or timesheets out to get the home office tax deductions you deserve!
Track your home office expenses and never miss a tax deduction with eCashBook’s FREE Working from Home cashbook (includes ATO Compliant logbooks!).
Visit https://ecashbooks.com to sign up now
Have a great day!