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Hot Issues
COVID-19 resources -Update July 2020
Work Related expenses – 2020
‘Everyone is now on notice’: ATO acquires COVID-19 data on 3m Aussies
Extra Tools & Resources for our clients.
Year End Tax Deductions – “equipment”
Home Office Claims 2020
Early release of super sees ‘high take-up’
Tax time 2020: ATO homes in on rental deduction claims
ATO announces Div 7A COVID-19 assistance
‘HomeBuilder’ grants now available.
$150k instant asset write-off extended for 6 months
JobKeeper documentation ‘absolutely critical’ in ATO audit
Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
ATO updates JobKeeper compliance approach
COVID-19 hotspots - tax time 2020
Tax reform to feature heavily in PM’s JobMaker plan
Jobkeeper Fraud warning
ATO extends initial JobKeeper payment deadline
Boosting cash flow - ATO
Our website, your resources
ATO releases JobKeeper alternative test
Temporary Working from Home Expenses Rule
Minimum Pensions Halved – 2020 & 2021
More coronavirus support for landlords, commercial tenants
COVID-19: Early Childhood Education and Care Relief Package
What Covid-19 relief packages mean to you.
Now I’m working from home, what can I claim?
Global statistics plus Covid-19 updates
ATO clarifies COVID-19 rent relief concerns
Articles archive
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Quarter 4 October - December 2014
Work Related expenses – 2020

Although the coronavirus lockdown has changed the work habits of many taxpayers, the fundamental tax claims for 2020 apply the same old tax principles.



       


Home Office


  • Claim the costs incurred, plus a new simpler short-cut method of 80¢ per diary hour.

Travel


  • Motor vehicle costs can be claimed under several methods, but using a logbook will almost always produce the best claim.  If you haven’t kept a logbook, how will you know what you missed out on?  Total kilometres travelled by Australia generally has declined, leading to a similar expectation for every taxpayer.  Are you any different?
     
  • Other travel claims are expected to be much lower due to lockdown, so strong evidence of purpose as well as receipts can be expected.

Subscriptions


  • Trade associations, etc, same rules.  Have digital subscriptions or anti-virus software subscriptions increased?

Clothing & Laundry


  • Same rules as always, but use may have changed.  It is probable that most taxpayers will have reduced costs, but other habits may change e.g. sanitiser, which has significantly increased.  What are your changes?  Think about them now and make a note or ask the question.

Tax Agent Fees


  • As always, these expenses are tax deductible.

Other


            What expenses have increased which you can provide a rationale and some evidence to connect to your income generation?


 


 


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28th-July-2020
 
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