The ATO has extended (again) the ability to utilise the “shortcut rate” for claiming home office running expenses to 30 June 2021 (it previously only applied until 31 December 2020).
The ATO’s guideline allows certain taxpayers to claim a fixed rate per hour (80 cents per hour) for most additional running expenses incurred when working from home by keeping a record of the number of hours they have worked from home, rather than needing to calculate specific running expenses.
The expenses included in the shortcut rate include lighting, heating, cooling and cleaning costs, the decline in value and repair of home office items (such as furniture and furnishings in the area used for work, computers and laptops, etc.), and phone and internet expenses.
However, the guideline does not cover “occupancy expenses”, such as rent, mortgage interest, property insurance and land taxes.
Please contact our team on 03 9708 8801 or email email@example.com if you have any queries or would like help with these claims.
Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances. The information contained within this document is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Robinson Voss Partners (RV Partners) strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances.