Work from Home Deduction
The Australian government has recently scrapped the shortcut method for claiming work-from-home deductions.
This method, which was introduced in the 2020-2021 financial year, allowed employees to claim a flat rate of 80 cents per hour for expenses incurred while working from home due to the COVID-19 pandemic.
However, the government has now announced that this method will no longer be available for the 2021-2022 financial year and beyond.
Instead, employees will be required to claim their expenses using the existing “actual cost” method or the “fixed rate method” which involves keeping records of expenses such as electricity and internet costs, and claiming them as tax deductions.
Not sure how this will affect you? Talk to our Square Penny team today on 1300 472 412 to learn more.
Getting to Know – Square Penny’s Financial Accountant – Sarah Hayne
Getting to Know – Square Penny’s Financial Accountant – Sarah Hayne What do you enjoy most about your role at SP? The flexibility in working...
Getting to Know – Square Penny’s Bookkeeper – Hayley Watson
Getting to Know – Square Penny’s Bookkeeper – Hayley Watson What do you enjoy most about your role at SP? Learning about different industries and...
Getting to Know – Accounts Payable Officer – Alyssa Mae Macaya
Getting to Know - Accounts Payable Officer - Alyssa Mae Macaya What do you enjoy most about your role at SP? I really enjoy the diversity of...
Getting to Know – Financial Accountant – Meisha Davies
Getting to Know - Financial Accountant - Meisha Davies What do you enjoy most about your role at SP? The lovely and supportive people I work...
Getting to Know – Financial Accountant – PJ Chan
What do you enjoy most about your role at SP?
The variety of work
Monthly Newsletter
Unlock the Power of your Technology Stack for Business Growth In our latest video, Angela Nicolai, Operations Director at Square Penny, reveals four...
Angela Nicolai – Importance of Your Technology Stack
Angela Nicolai - Importance of Your Technology Stack
Alex Georgiou – Unlocking Growth
Alex Georgiou - Unlocking Growth
Monthly Newsletter
Superannuation Guarantee Charge - What You Need to Know The superannuation guarantee charge (SGC) rate will be increasing to 11% from 1 July 2023. ...
Common Mistakes to Avoid in Business – A Case Study
Common Mistakes to Avoid in Business - A Case Study
Square Penny CEO’s Top 5 Tips to Get EOFY Ready
Square Penny CEO's Top 5 Tips to Get EOFY Ready
Meet Financial Accountant – Helen Gahan
Meet Financial Accountant - Helen Gahan
Anne-Maree McKernan – Why Budget
Anne-Maree McKernan - Why Budget
Meet CFO – Michelle Menelaws
Meet CFO - Michelle Menelaws
Getting to Know – Meet Financial Accountant – Meisha Davies
Getting to Know - Meet Financial Accountant - Meisha Davies
Monthly Newsletter
Case Study - The Role of an Outsourced Finance or Bookkeeping Service in Starting Your Business If you’re grappling with when to engage outsourced...
Getting to Know – Business Development Manager – Alex Georgiou
Watch Alison Vine discuss how we helped one of our clients
Are your business systems working for you?
Are Your Business Systems Working for You? Here’s what we did for one client to streamline their processes and maximise their profits… Here at...
Case Study – The Role of an Outsourced Finance or Bookkeeping Service in Starting Your Business
Watch Alison Vine discuss how we helped one of our clients
Celebrate another Square Penny milestone with us!
Celebrate another Square Penny milestone with us! This month marks our 15th business birthday. It’s been a thrilling adventure to now, and we...
