Small Business All Figured Out

015.1 Tax Bite Update: Working From Home - The New 80 Cents Per Hour Method

April 23, 2020 Corinne Cole & Sheryl Cole
Small Business All Figured Out
015.1 Tax Bite Update: Working From Home - The New 80 Cents Per Hour Method
Chapters
Small Business All Figured Out
015.1 Tax Bite Update: Working From Home - The New 80 Cents Per Hour Method
Apr 23, 2020
Corinne Cole & Sheryl Cole

In this Tax Bite Update, we’re talking about claiming working from home using the new 80 Cents Per Hour Method recently announced by the Australian Taxation Office in response to the COVID-19 pandemic.

These Tax Bites are created for you, the individual taxpayer, to give you tax tips and tools to help you prepare for Tax Time 2020 in Australia. This Tax Bite Edition is hosted by Registered Tax Agents and CPA’s Sheryl Cole and Corinne Cole.

Special Tax Bite episodes will be happening in the lead up to tax time 2020 to help you prepare for tax time and get the inside scoop as to what you can and can’t claim on tax and what documentation you need to ensure your claim holds up in an ATO audit.

In this Tax Bite Update, we talk about:

  • What expenses are covered by the 80 Cents Per Hour Method; 
  • The period for which the 80 Cents Per Hour Method can be used;
  • The benefits of using the 80 Cents Per Hour Method;
  • The disadvantages of using the 80 Cents Per Hour Method (versus the Fixed-Rate Method and the Actual Method);
  • The records required to be kept to claim home office expenses using this method.

You can learn more about the show hosts, Corinne Cole and Sheryl Cole at:

platinumaccounting.com.au

thenumberninjas.com.au

Show Notes

In this Tax Bite Update, we’re talking about claiming working from home using the new 80 Cents Per Hour Method recently announced by the Australian Taxation Office in response to the COVID-19 pandemic.

These Tax Bites are created for you, the individual taxpayer, to give you tax tips and tools to help you prepare for Tax Time 2020 in Australia. This Tax Bite Edition is hosted by Registered Tax Agents and CPA’s Sheryl Cole and Corinne Cole.

Special Tax Bite episodes will be happening in the lead up to tax time 2020 to help you prepare for tax time and get the inside scoop as to what you can and can’t claim on tax and what documentation you need to ensure your claim holds up in an ATO audit.

In this Tax Bite Update, we talk about:

  • What expenses are covered by the 80 Cents Per Hour Method; 
  • The period for which the 80 Cents Per Hour Method can be used;
  • The benefits of using the 80 Cents Per Hour Method;
  • The disadvantages of using the 80 Cents Per Hour Method (versus the Fixed-Rate Method and the Actual Method);
  • The records required to be kept to claim home office expenses using this method.

You can learn more about the show hosts, Corinne Cole and Sheryl Cole at:

platinumaccounting.com.au

thenumberninjas.com.au