Work From Home Shortcut Method Calculator. This new ‘shortcut’ method will allow workers to claim a deduction of 80 cents for each hour worked between 1 march 2020 until at least 30 june 2020. Electricity and gas for heating, cooling and lighting.
1 july 2020 to 30. A new, simplified method to calculate home office expenses at an increased rate of 80 cents per hour has now been. This will see taxpayers able to claim the 80 cents per hour temporary shortcut method to calculate working from home deductions.
Between 1 march 2020 to 30 june 2020 in the. Under that method, bianca can claim the desk, chair, gas and electricity under the 52 cents per hour, but. This method allows you to claim a deduction of 52 cents for each hour you work from home.
The shortcut method covers all your work from home expenses, such as: You calculate the deduction for additional running expenses using the shortcut method, with the following formula: They will be listed below in further detail.
There are three ways of calculating home office expenses depending on your circumstances. The shortcut method is just one of three ways available to work out your deduction for working from home expenses. You can read more about this method here.
Using the fixed rate method, taxpayers can claim 52 cents for each hour they worked from home. The new “shortcut method” allows people to claim 80 cents per hour, rather than needing to calculate costs for specific running expenses whilst working from home. Oliver can claim 24 hours per week x 80c x 48 weeks (1 july.
Phone and internet expenses are included in the 80c per hour rate. If you use this method, you cannot claim any other. This will see taxpayers able to claim the 80 cents per hour temporary shortcut method to calculate working from home deductions.
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