{"id":14032,"date":"2020-04-09T07:25:57","date_gmt":"2020-04-08T19:55:57","guid":{"rendered":"http:\/\/quantiphy.com.au\/oldbackup\/new-working-from-home-shortcut\/"},"modified":"2020-11-27T18:25:36","modified_gmt":"2020-11-27T06:55:36","slug":"new-working-from-home-shortcut","status":"publish","type":"post","link":"https:\/\/quantiphy.com.au\/oldbackup\/new-working-from-home-shortcut\/","title":{"rendered":"New working from home shortcut"},"content":{"rendered":"

As many employees and businesses migrate to working from home in the interests of employee safety as a result of the enforced Government shutdown, the Australian Taxation Office (ATO) has announced special arrangements this financial year due to COVID-19 to make it easier for people to claim tax deductions for costs incurred in working from home.<\/span><\/p>\n

We are sending this now so you can consider your own circumstances and to best prepare yourselves to maximise your eligible tax deductible claim for your 2019\/20 tax return.<\/span><\/p>\n

This new arrangement will allow employees\/contractors to claim a rate of 80 cents per hour for all their running expenses, rather than needing to calculate costs for specific running expenses.<\/span><\/p>\n

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.<\/span><\/p>\n

This new shortcut method will make it easier for those who are working from home for the first time and you will only be required to keep a record of the number of hours worked from home.<\/span><\/p>\n

The Assistant Commissioner, Karen Foat, in making this announcement commented that \u201cThis recognises that many taxpayers are working from home for the first time and makes claiming a deduction much easier. If you choose to use this shortcut method, all you need to do is keep a record of the hours you worked from home as evidence of your claim.\u201d<\/span><\/p>\n

This new shortcut arrangement does not prohibit people from making a working from home claim under existing arrangements, where you calculate all or part of your running expenses.<\/span><\/p>\n

Claims for working from home expenses prior to 1 March 2020 cannot be calculated using the shortcut method, and must use the pre-existing working from home approach and requirements.<\/span><\/p>\n

The ATO will review the special arrangement for the next financial year as the COVID-19 situation progresses.<\/span><\/p>\n

For a summary of this content, please click link below<\/span><\/p>\n

[button link=” https:\/\/www.ato.gov.au\/uploadedFiles\/Content\/IND\/Downloads\/Working-from-home.pdf” color=”default” size=”xlarge” stretch=”” type=”flat” shape=”” target=”_blank” title=”” gradient_colors=”|” gradient_hover_colors=”|” accent_color=”” accent_hover_color=”” bevel_color=”” border_width=”1px” icon=”” icon_divider=”yes” icon_position=”left” modal=”” animation_type=”0″ animation_direction=”down” animation_speed=”0.1″ animation_offset=”” alignment=”left” class=”” id=””]WORKING FROM HOME SUMMARY[\/button]<\/p>\n

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Working from home claims for 1 March to 30 June 2020<\/span><\/h2>\n

There are three ways that you can choose to calculate your additional running expenses for the 1 March \u2013 30 June period:<\/span><\/p>\n