Doing taxes can be stressful even at the best of times, and the transformation of Australia’s workforce in response to the coronavirus pandemic only adds to the confusion.
Unemployment has skyrocketed, more Australians are working from home than ever before, and countless more have retained their jobs because of government wage subsidies.
If you’re confused about how this all affects taxes, you’re not alone.
But instead of sifting through a slew of stories, press releases, and accountant ads disguised as tax-time tips, The New Daily has covered off the key issues for you.
And you can access them all right here, via the links below.
Up-to-date paperwork will maximise your returns
Time to do away with the old, receipt-filled shoebox. Updating your record keeping can reap big benefits.
What JobKeeper and JobSeeker really mean for your taxes
Many Australians are taking a support payment from government to keep the nation’s economic engines turning.
But don’t expect those payments to have a big effect on your taxes this year.
Early birds don’t always catch the worm
We’re always told to get our taxes in on time, but don’t be too eager – filing too early could result in smaller returns.
That’s because the ATO relies on information from employers which can take weeks to finalise.
What you can and can’t claim working from home
Australian workers are getting their jobs done from the comfort of their own homes.
That brings with it a range of additional expenses, some of which can be claimed back in your taxes – and some of which can’t.