Individual Tax Tips

My employer is encouraging or requiring me to work from home. Will I be able to claim a deduction for home office expenses?		Can I claim working from home expenses when I’m on leave or if I’ve been stood down during the COVID-19 period?		If I use the shortcut method to claim my expenses while I work from home, what records do I need to keep?
Can I claim for my rent or mortgage and will this affect capital gains tax if I sell my house?		I claim my car-related expenses using the logbook method. Will I need to keep a new logbook for an updated representative period of private and business usage during COVID-19?		I am a working parent with school-aged children who are learning from home during the COVID-19 crisis. Will I be able to claim a deduction for the costs associated with setting them up for learning?
Under the COVID-19 early release of super arrangements, can I make  more than one application in the same financial year as long as I don’t withdraw more than $10,000 in total in either the 2019-20 or 2020-21 financial years?		I’ve had my hours cut back at work and I can’t afford to pay the bills. What assistance is available to me?		Can I claim a deduction for gloves, face masks, sanitiser, anti-bacterial spray that I use at work due to COVID-19?
My tenants are not paying their full rent or have temporarily stopped paying rent because their income has been adversely affected by COVID-19. Can I still claim deductions on my rental property expenses?		I’m considering reducing the rent for tenants whose income has been adversely affected by COVID-19 to enable them to stay in the property. The tenants are not in default of their rent. Will my deduction for rental property expenses be reduced because of this?		If I receive a back payment of rent or an amount of insurance for lost rent, is this amount assessable income?
Can I access the new instant asset write-off for my property?		I would like to stop paying for advertising on my short-term rental property during COVID-19 as I am not getting any queries for the property. Can I still claim deductions associated with holding the property?		I am using my holiday home privately for myself and my family so we can isolate during COVID-19. Can I continue to claim deductions for the property for this period, as I am unable to rent the property commercially?

Business Tax Tips

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FAQs

We know that there isn’t a one-size-fits-all solution to accounting, wealth management and business growth. So we’ve also outlined some tax-effective strategies that you may benefit from. We can help you find what strategies are right for you and/or your business.

• Individuals
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