Hot Issues
spacer
5 strategies for successful ‘work from home’ policies
spacer
Small businesses: don’t forget your FBT concessions
spacer
ATO chases $172bn in undeclared contractor income
spacer
‘Penalties will resume’: ATO flips the switch on debt recovery
spacer
JobMaker Hiring Credit rules and reporting
spacer
ATO data-matching: JobMaker
spacer
A broad range of Calculators.
spacer
ATO Small Business Newsroom
spacer
ATO’s good-faith approach to crypto won’t last much longer
spacer
‘Much more complex’: ATO introduces new partnership profit guidelines
spacer
Cost of retirement up in December quarter
spacer
Contributing to Superannuation
spacer
ATO tipped to pounce once JobKeeper ends
spacer
What’s Happening to Small Business Loans in Australia?
spacer
ATO Revs Up As JobKeeper Set To End In March 2021
spacer
Small businesses urged to register assets before insolvency explosion.
spacer
ASIC sounds warning around high-yield bond scams
spacer
JobMaker Resources - ATO
spacer
Government mulls HECS-style business loans
spacer
Industry pressure forces ATO’s hand on STP deadline
spacer
$36bn withdrawn from super during COVID-19
spacer
ATO opens claims for first JobMaker quarter
spacer
Vaccination rates as they happen around the world
spacer
Toyota returns $18m in JobKeeper payments
spacer
Approaching the dawn
spacer
Videos and other resources for our clients
spacer
Brazen ATO scam costs Sydney woman $22k
spacer
Key dates for the second JobKeeper extension period
spacer
Returning expats reminded on tax snares with pensions, investments
spacer
80¢ per hour work-from-home deduction method extended
Article archive
spacer
Quarter 4 October - December 2020
spacer
Quarter 3 July - September 2020
spacer
Quarter 2 April - June 2020
spacer
Quarter 1 January - March 2020
spacer
Quarter 4 October - December 2019
spacer
Quarter 3 July - September 2019
spacer
Quarter 2 April - June 2019
spacer
Quarter 1 January - March 2019
spacer
Quarter 4 October - December 2018
spacer
Quarter 3 July - September 2018
spacer
Quarter 2 April - June 2018
spacer
Quarter 1 January - March 2018
spacer
Quarter 4 October - December 2017
spacer
Quarter 3 July - September 2017
spacer
Quarter 2 April - June 2017
spacer
Quarter 1 January - March 2017
spacer
Quarter 4 October - December 2016
spacer
Quarter 3 July - September 2016
spacer
Quarter 2 April - June 2016
spacer
Quarter 1 January - March 2016
spacer
Quarter 4 October - December 2015
spacer
Quarter 3 July - September 2015
spacer
Quarter 2 April - June 2015
spacer
Quarter 1 January - March 2015
spacer
Quarter 4 October - December 2014
80¢ per hour work-from-home deduction method extended

 

Taxpayers continuing to work from home in the new year will be allowed to continue using the simplified working-from-home deduction method following a third extension by the ATO.

 

         

The 80¢ per hour shortcut method, introduced in April 2020 in response to COVID-19, will now be in place until 30 June 2021.

This is the third time the Tax Office has chosen to extend the shortcut method, after it was first due to expire at the end of the last financial year, then September 2020, and more recently, at the end of December 2020.

Conversely, the ATO’s updated Practical Compliance Guideline 2020/3 no longer states whether further consideration will be given to extend the latest end date.

The new extension comes as NSW continues to contain an outbreak of COVID-19 infections that began on the Northern Beaches a week before Christmas.

Victoria has since recorded new community transmission cases, with the state government now moving to push back plans for workers to return to the office from next Monday to a week later.

The temporary shortcut method will continue to be supplementary to the 52¢ fixed-rate method and the actual cost method of calculating running expenses, with taxpayers able to choose the appropriate method for their circumstances.

View the ATO’s updated PCG 2020/3 here.

 

 

Jotham Lian 
07 January 2021 
accountantsdaily.com.au