Clients should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not constitute or convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any of the areas.
This newsletter is issued as a helpful guide to clients and for their private information. Therefore it should be regarded as confidential and not be made available to any person without our prior approval.
Please contact us if you wish to discuss how the points raised in this edition specifically affect you.
Claiming your “working from home”
The ATO have introduced new rules for claiming your “work from home” expenses.
The Australian Taxation Office (ATO) is announcing special arrangements
this year due to COVID-19 to make it easier for people to claim
deductions for working from home.
The new arrangement will allow people to claim a rate of 80 cents per hour
for all their running expenses, rather than needing to calculate costs
for specific running expenses.
Multiple people living in the same house can claim this new rate. For example, a
couple living together could each individually claim the
80 cents per hour rate. The requirement to have a dedicated work from
home area has also been removed.For greater details please follow the link below.
Coronavirus: Government announces new tax measures
The Government has announced a number of economic responses to the
Coronavirus (or 'COVID-19') pandemic, including economic stimulus
packages worth billions of dollars.
Some of the key tax measures include:
ATO's support measures to assist those affected by COVID-19
The ATO will also implement a series of administrative measures to assist Australians experiencing financial difficulty as a result of the COVID-19 outbreak.Options available to assist businesses impacted by COVID-19 include:
However, note that employers will still need to meet their ongoing super guarantee obligations for their employees.
Please contact our office if you need any advice or assistance during this difficult time