Tax season is well and truly underway. But with COVID-19 affecting our lives for a full year now, some things to do with what you need to include in your return have changed. Here's what you need to know.
Highlights
- There are a few ways you can work out your deductions related to working from home, depending on your situation.
- If you've received a COVID-19 Disaster payment, you must also declare that
- For those on a low income, you could be eligible to get free assistance through the ATO's Tax Help program.
After a full year of COVID-19, a lot of things have changed in Australia. And this end of financial year, filing your tax return could also look a little different.
The Australian Tax Office says it expects an increase in deductions related to people working from home, such as the cost of electricity, internet, phone, and depreciation in the value of office equipment.
Tax time resources can be found on the ATO’s website in more than 20 languages.
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