Current news from our news service

Hot Issues
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COVID-19 resources - Jobkeeper, Victoria Stage 4 Update
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JobKeeper Phase 2 - Latest Update
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Payroll Tax 2020 concessions and JobKeeper
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High alert issued over myGov tax time scam
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Extended director penalty regime to catch out ‘zombie companies’
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SG amnesty deadline - 7 September
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‘Hundreds’ to be contacted in ATO early super compliance blitz
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90,000 SMEs to benefit from new JobTrainer program
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Work Related expenses – 2020
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‘Everyone is now on notice’: ATO acquires COVID-19 data on 3m Aussies
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Extra Tools & Resources for our clients.
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Year End Tax Deductions – “equipment”
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Home Office Claims 2020
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Early release of super sees ‘high take-up’
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Tax time 2020: ATO homes in on rental deduction claims
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ATO announces Div 7A COVID-19 assistance
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‘HomeBuilder’ grants now available.
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$150k instant asset write-off extended for 6 months
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EOFY considerations and 3 Tax Time Checklists
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JobKeeper documentation ‘absolutely critical’ in ATO audit
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ATO updates JobKeeper compliance approach
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COVID-19 hotspots - tax time 2020
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Tax reform to feature heavily in PM’s JobMaker plan
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Jobkeeper Fraud warning
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ATO extends initial JobKeeper payment deadline
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Boosting cash flow - ATO
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Our website, your resources
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ATO releases JobKeeper alternative test
Article archive
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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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