Individuals – 2022 Changes & Actions

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DateChanges and actions
1 July 2021 Work related COVID-19 test expenses tax deductible
Pre-30 June 2022 Pay superannuation to deduct contributions in the current financial year
 ATO recommences offsetting tax refunds or credits against old tax debts
30 June 2022 ATO’s 80 cent per hour work from home short-cut method to claim deductions
1 July 2022 Super guarantee rate increases to 10.5%
 $450 super guarantee threshold removed
 PAYG uplift factors reduced to lower instalment amounts
1 July 2023 Super guarantee rate increase to 11%

The material and contents provided in this article are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.