There’s set to be a massive change the next time you lodge your return - and experts worry it’s ‘bad news for taxpayers’.
But using the new 67c rate, Chapman said, a deduction over the same time period would work out to about $642.20.“As well as a record of time spent working from home, a carry-over from both of the old methods, the taxpayer also needs to keep evidence for each of the additional running expenses they incurred.
“The change should instead have been introduced from 1 July 2023, which would give taxpayers sufficient time to set up their record-keeping systems appropriately. Collectable debt rose by 69 per cent to $44.8 billion in the 2021-22 financial year, from $26.5 billion in 2019 before the pandemic hit. “As the economy recovers, one of our key priorities is to address the collectable debt that has accrued over the past three years.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Blockbuster review – like stepping into a time warp (in a very bad way)This timid sitcom set in the last ever video rental store has such a dated feel. In the age of streaming services, this isn’t good enough
Read more »
We know that sitting is bad for our health. Is it time for lunge meetings?We’re making progress. But it’s moving more, not just standing up more often, that’s the big challenge with both working in the office and working from home.
Read more »
Damaged nonstick pans release millions of microplastics. But is that bad?A study has found damaged nonstick pans can release millions of micro and nanoplastics. How bad is that for human health?
Read more »
Sydney gets a break from the rain. This is bad news for hay fever sufferersSunny days after months of rain are creating perfect conditions for high loads of pollen.
Read more »
Damaged nonstick pans release millions of microplastics. But is that bad?A study has found damaged nonstick pans can release millions of micro and nanoplastics. How bad is that for human health?
Read more »
We know that sitting is bad for our health. Is it time for lunge meetings?We’re making progress. But it’s moving more, not just standing up more often, that’s the big challenge with both working in the office and working from home.
Read more »