Tax return 2022 is here. At EndureGo Tax, the leading CPA accountant and tax agent in Inner West Sydney, Ashfield, Northern Beaches Belrose, and Adelaide, South Australia, we are here to help you. It is essential to remember that the work-from-home office expense shortcut method of 80 cents per hour, which the ATO introduced during the COVID-19 pandemic. Hence, please come to see us, and let us help you to maximize the deductibility of the working from home office expense using the shortcut method for the final last year.
Rapid Antigen Test Deductibility
In terms of the rapid antigen test, it is deductible in the tax return. Previously, there was a lot of confusion, where some entities in the government said it was deductible, while others said it was deductible, subject to fringe benefits tax. However, the rule has changed in recent times.
Regarding COVID tests, the rules have changed to make them claimable for the first time. Assistant Commissioner Tim Loh said, “Taxpayers who’ve paid for a COVID-19 test for work-related purposes – for example, working out whether you can attend or remain at work – can claim a deduction for the COVID-19 test. So that could be a PCR test or RAT (rapid antigen test),” Mr Loh says.
Conditions for Claiming COVID-19 Tests
“There are a few conditions that you need to satisfy. First, you must have spent the money and not be reimbursed by the employer. The client must have used it for work-related purposes. For example, if the client bought the rapid antigen test to determine if they could go on holiday to Byron Bay with their friends, that expense would not be deductible.
Also, it is important to keep the receipt for the rapid antigen test, either in paper format or a digital copy. However, please ensure you do not claim the rapid antigen test fee for the children, as it is not claimable.
As the leading CPA accountant in Inner West Sydney, Ashfield, Belrose, the Northern Beaches, and Adelaide, South Australia, we are here to help you. Give us a call, and we can help you maximize your work-related deduction for your tax return 2022.
