AMA Accountants & Tax Experts in Adelaide, South Australia | Tax preparation service

AMA Accountants & Tax Experts

Locality: Adelaide, South Australia

Phone: +61 420 529 890

Address: 2 First Avenue Woodville Gardens 5012 Adelaide, SA, Australia

Website: https://www.amataxexperts.com.au

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24.01.2022 Work From Home during Covid 19 - Shortcut Method You can claim a deduction of 80 cents for each hour you worked from home in the 201920 income year during the period 1 March to 30 June 2020 as long as you: 1) were working from home to fulfil your employment duties and not just carrying out minimal tasks such as occasionally checking emails or taking calls 2)incurred additional running expenses as a result of working from home.... 3)The shortcut method doesn’t require you to have a dedicated work area, such as a private study. 4)The shortcut method covers all additional deductible running expenses, including: *electricity for lighting, cooling or heating and running electronic items used for work (for example, your computer), and gas heating expenses the decline in value and repair of capital items, such as home office furniture and furnishings including capital items that cost less than $300 cleaning expenses your phone costs, including the decline in value of the handset your internet costs computer consumables, such as printer ink and stationery the decline in value of a computer, laptop or similar device. If you use this method, you can't claim any other expenses for working from home for that period. When you are calculating the number of hours you worked from home, you need to exclude any time you took a break from working, for example the time you spent to stop and eat your lunch or to assist your children with home schooling. You can calculate your deduction for additional running expenses using the shortcut method, with this formula: total number of hours worked from home between 1 March and 30 June 2020 80 cents (for the 201920 income year) total number of hours worked from home between 1 July 2020 and 30 September 2020 80 cents (for the 202021 income year). If you use the shortcut method to claim a deduction in your 201920 tax return or 202021 tax return, include the amount at the other work-related expenses question in your tax return and include ‘COVID-hourly rate’ as the description. Remember, you can only use this method from 1 March to 30 June 2020 for the 201920 income year. You will be able to include the period from 1 July 2020 to 30 September 2020 in your tax return next year. You must keep a record of the number of hours you have worked from home. This could be a: timesheet roster diary, or similar document that sets out the hours you worked.

23.01.2022 With the shining of diyas and the echoes of the chants, May prosperity and happiness step into your life.Wishing you and your family a very happy and prosperous Diwali! Best wishes from AMA Accountants #Happydiwali2020 #festivaloflights2020 #Diwali

10.01.2022 May this Dhanteras light up your fortune, bring good health and happiness in the family, and among loved ones! Best wishes from Team AMA Accountants #HappyDhanteras2020 #Dhanteras #Dhanteras2020

06.01.2022 To all the fathers & grandfathers we pray that you have a wonderful Father’s Day with love, laughter and fun.You play important role in raising and nurturing your children. #happyfathersday #fathersday #dad #grandfather