Many of us have shifted our office desks into our living rooms, which means our living expenses are bound to go up. It turns out, we actually do need a little more toilet paper and soap around here!
Because of this, people have started collecting every little receipt that could relate to anything to do with their every day work-life. It could get real messy at tax time, so the Australian Tax Office has announced a simpler approach which won’t see you stack up little pieces of paper.
As a special arrangement, people who have been required to work from home will be able to claim a rate of 80cents per hour of all their running expenses, instead of calculating everything specifically like usual. All you’ll need to do is keep track of the hours you are working!
If you’ve got multiple people living under the same roof, everyone will need to claim it as individuals and it’s no longer a requirement to have a dedicated area in order to claim.
The shortcut covers March 1 to June 30 and will be reviewed by the ATO for the next financial year as COVID-19 progresses.