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 [[ATO]] 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.
When it comes to declaring your income, the A-T-O will be keeping an eye out to ensure the more than 600,000 Australians who've invested in crypto-assets like BitCoin in recent years include it in their tax returns.
And for those who received a COVID-19 Disaster Payment during Melbourne’s recent lockdown, you’ll also have to declare that.
One thing that hasn't changed this year is the key dates surrounding the lodgement of your tax return.
As always, individuals have until the 31st of October this year to file their tax return.
You have longer if you’re planning on using a registered tax agent, but you still need to be one of their clients by the end of October.
And while you can technically prepare and submit your tax return through myGov right now, getting it in before August could mean it takes the A-T-O longer to process your claim.
