Working from Home Shortcut Method Extended by the ATO.
The ATO introduced the shortcut method in April to help taxpayers track their working from home expenses as COVID-19 forced many to adopt remote working practices. The new temporary 80 cents per hour method will now be extended.
This scheme was originally intended to run from 1 March to 30 June 2020, but due to current work patterns not yet returning to normal and as Melbourne reimpose lockdown restrictions, the ATO has decided to extend this shortcut method to 30 September 2020.
The ATO has noted that it may extend the new method beyond 30 September 2020, depending on when work patterns begin to return to normal. Note records of the hours worked at home in the form of a timesheet or diary are needed to claim the shortcut method.
The temporary shortcut method will continue to be supplementary to the 52 cents fixed-rate method and the actual cost method of calculating running expenses.
For more download our working from home guide.
Further, if you need assistance deciding how best to claim your working from home tax expenses this year please get in touch with our team by phone 02 9415 1511 or email firstname.lastname@example.org.