Dear Valued Clients,

 

For upcoming Financial Year 2020 Tax Return, we would like to inform you about updated information about income tax return FY 2020 due to COVID-19. We hope this information will be of assistance to you.

 

Jobkeeper Payment and Jobseeker Payment

  • Above payment you received are reportable income to ATO when lodging income tax return.
  • Please inform your accountant or include those payment in you income tax return.

 

Deduction claim for Working from home during COVID-19

 

  • During the period of 2020 1 March to 30 June, you can claim a rate of 80 cents per hour for all their running expenses which are directly related to earning your income.

 

  • Claims for working from home expenses prior to 1 March 2020 should be calculated using the existing approaches (52 cents per hour).

 

  • These include electricity expenses – heating, cooling and lighting from working and items you are using for work, cleaning costs for work area, phone and internet expenses, computer consumables and stationery.

 

  • You must keep a record of the number of hours you have worked from home. This could be a:

 

  1. Timesheet
  2. Roster
  3. diary, or
  4. Similar document that sets out the hours you worked.

 

Please contact us if you have any enquires in relation to above matter.

Thank you.