The Australian Taxation Office (‘ATO’) has announced a temporary simplified short cut method to make it easier for individual taxpayers to claim deductions for additional running expenses incurred (e.g., additional heating, cooling and lighting costs), (Home Office Claim Guidelines) as a result of working from home due to the Coronavirus pandemic. Refer to the ATO’s Media Release of 7 April 2020.
Based on the announcement, the ATO will allow individuals to claim a deduction for all running expenses incurred during the period 1 March 2020 to 30 June 2020, based on a rate of 80 cents for each hour an individual carries out genuine work duties from home. This is an alternative method of claiming home running expenses under existing arrangements, which generally require an analysis of specific running expenses incurred and more onerous record-keeping.
DOWNLOAD THE FULL GUIDE HERE > ATO Home Office Claim Guidelines