Keep your Covid receipts!
The government announced this week that they will ensure COVID-19 testing expenses are tax deductible for testing taken to attend a place of workThe HVIA has sent out a bulletin saying that this will also mean fringe benefits tax will not be incurred by employers if they provide COVID-19 tests to their employees for this purpose.
Assistant Minister The Hon Michael Sukkar MP said the change will take effect from the beginning of the 2021-22 tax year and will be in place permanently.
“To remove any doubt, the Government will introduce legislation to make clear that work-related COVID-19 test expenses incurred by individuals will be tax deductible,” he said.
“This applies both when an individual is required to attend the workplace or has the option to work remotely.
“This action recognises that COVID-19 tests are an important tool for mitigating transmission risks and absences from the workplace.”
This measure is not yet law. The ATO will provide more detailed advice and guidance once the measure is enacted.
In the interim, if you have incurred expenses for COVID-19 tests, you should keep you receipts and a record of those expenses.
Related reading:
Drivers applauded for Covid efforts
Trucking industry united on testing sites
Scania bus morphs into mobile Covid jab unit
Tags
Please see our Editorial Guidelines & Code of Ethics (including for more information about sponsored content and paid events). The information published on this website is of a general nature only and doesn’t consider your particular circumstances or needs.