Category: Working from Home

Avoid double dipping on your deductions

Taxpayers are reminded not to make the mistake of ‘double dipping’ on deductions (that is, claiming expenses twice) in their tax return this year. Some of theses ‘double dipping’ mistakes include: Working from home expensesA common mistake involves using the ‘shortcut method’ to claim working from home expenses and then claiming additional amounts for expenses

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The ‘gigs up’ with a new sharing economy reporting regime

Treasury has released draft legislation introducing the long-awaited third party reporting regime (proposed to apply from 1 July 2022). The new regime will initially require ride-sharing and short term accommodation online platform operators to report transactions they facilitate directly to the ATO. This measure was first announced in the 2020 MYEFO (following a recommendation from

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80¢ per hour work-from-home deduction method extended

Taxpayers continuing to work from home in the new year will be allowed to continue using the simplified working-from-home deduction method following a third extension by the ATO. The 80¢ per hour shortcut method, introduced in April 2020 in response to COVID-19, will now be in place until 30 June 2021. This is the third

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Shortcut to claiming working from home deductions

As the situation around COVID-19 continues, the ATO understands many employees have been working from home. To make it easier when claiming a deduction for additional running costs you incur as a result of working from home, special arrangements have been announced. A simplified method has been introduced that allows you to claim a rate

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