Monthly update, May 2020

Answers to COVID-19 work-from-home expense questions and CGT concerns

The dominating factor in all our lives at the moment is of course COVID-19. We look at issues that may change the normal deductions taxpayers can make for working from home, plus examine details of the new JobKeeper scheme that both employers and employees will need to know.

There is also the early release from superannuation option that may help many people get through this difficult period, and the temporary changes to the instant asset write-off rules, as well as accelerated depreciation, that are available now.

This issue reflects the law when it was published. Tax and super rules change often, so please call us before acting on anything in it.