Work from home expenses and COVID-19: ATO releases PCG 2020/3

The ATO has released guidance specific to working from home expenses.

The Australian Taxation Office (ATO) has released PCG 2020/3 Claiming deductions for additional running expenses incurred whilst working from home due to COVID 19, which will be relevant to employees and business owners preparing tax returns for the financial year ended 30 June 2020 and beyond.Broadly, you can use what is known as at the ‘shortcut rate’ to calculate additional running expenses for the period you work from home. This is an alternative to the current fixed rate and actual metho...

Sign in below or register now to read the full article

Authors:

Published Date: 08 July 2020