Individuals can claim a deduction for all running expenses incurred during the period 1 March 2020 to 30 June 2020, based on a rate of 80 cents for each hour an individual carries out genuine work duties from home.
You can’t claim an immediate tax deduction on capital assets such as a car, plant and equipment, property, etc. Instead, you need to write off the cost over a period of time. This tax-deductible write-off is called depreciation.
Currently, the government has taken several steps to support business and Individual taxpayers through the pandemic. However, there are fewer supports for students. Therefore, we are offering free Individual Tax Return service for full-time students until 31 March 2021.