Make sure you have the information for the right year before making decisions based on that information. Some of the information on this website applies to a specific financial year. If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take. We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations. Our Home office shortcut method calculator will take between 1 and 5 minutes to use. Include the description ‘COVID-hourly rate’. Once you calculate your deduction, enter the amount at other work-related expenses in your tax return. You must have a record of the hours you worked from home, for example, a timesheet, roster or diary. If you choose to use this method, there is no requirement to separately calculate the decline in value of equipment or depreciating assets or any other working from home expense. The shortcut method includes decline in value of all items. electricity and gas for heating, cooling and lighting.the decline in value of equipment and furniture.The shortcut method (80 cents per work hour) covers all your work from home expenses, such as: To continue to claim deductions for working from home expenses after 30 June 2022 you will need to use either the fixed rate method or actual cost method. The shortcut method ends on 30 June 2022. between 1 March to 30 June 2020 in the 2019-20 income year.The shortcut method is temporary, you can only use it to work out your deduction for work from home expenses: Access the Home office expenses temporary shortcut method calculator But make sure you meet the criteria and record-keeping requirements for each method.įor the 2019–20 income year, if you worked from home before 1 March 2020, you may need to use more than one of the three methods to work out your total deduction for the year. You can use the method or methods that will give you the best outcome. Actual cost method – use the actual cost method.Fixed rate method – use the fixed rate method.Shortcut method (all-inclusive rate of 80 cents per work hour) temporary due to COVID-19 – use the shortcut method.There are three methods to calculate home office expenses depending on your circumstances: If your home is your principal place of business, you should refer to running your business from home. These can be additional running expenses such as electricity, the decline in value of equipment or furniture and phone and internet expenses. If you're an employee who works from home, you may be able to claim a deduction for expenses you incur relating to that work. that you're reimbursed for, paid directly by your employer or the decline in value of items provided by your employer – for example, a laptop or a phone.
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