Australians forced to work from home due to the foreclosure can at least save money and claim part of the tax costs.
Working from the dining table with a laptop means at least that a Sydney professional, living in a remote suburb more than 15 miles from the city center, doesn’t spend $ 25 a week on train tickets.
Financial comparison group Finder calculated that an Opal card user would save $ 4.90 per day by not taking the train, $ 4.10 by avoiding the bus, and $ 7 without needing the ferry.
These calculations are averages based on fares divided by the number of trips for primarily return travelers and some commuters making one-way trips.
Australians forced to work from home due to the lockdown will at least save money and be able to claim part of the tax costs. Financial comparison group Finder calculated that an Opal card user would save $ 4.90 per day by not having to take the train, $ 4.10 by avoiding the bus, and $ 7 without needing the ferry. Pictured is an empty street in Sydney city
Graham Cooke, head of research at Finder, said the shipping costs were “surprisingly expensive” for those who live away from the office.
“It’s amazing how much Australians pay to get to and from the office,” he told Daily Mail Australia.
The possibility of working from home is also a chance to save.
“Australians should put aside what they usually spend on transport during this time and put it in their savings instead,” Cooke said.
The temptation to buy a take-out cappuccino for $ 3.50 saves an additional $ 17.50 per week on top of the $ 50 unspent for a $ 10 sandwich for lunch every day.
While professionals working from home may be less likely to splurge on food from cafes, they will incur higher electricity bills, with over 12 million currently stranded in Sydney, Brisbane, Perth, Darwin, Townville. and Alice Springs.
Under special Covid rules which expired on Wednesday, Australians working from home were allowed to claim a flat rate of 80 cents an hour on taxes.
The temptation to buy a take-out cappuccino for $ 3.50 saves an additional $ 17.50 per week on top of the $ 50 unspent for a $ 10 sandwich for lunch every day. Pictured Sydney cafe owner Chris Kriketos in his empty Sydney cafe during the lockdown
The rule introduced in March 2020 at the start of the pandemic has been extended to cover the 2020-21 fiscal year, which ended yesterday.
For Sydney residents who only worked from home during the last lockdown, that means they will be able to claim the costs from June 26 through June 30, 2021.
Tax agent H&R Block said he could also opt for the lower rate of 52 cents an hour and individually add up his phone, internet and electricity bills for the set period of working from home.
By choosing this method, he calculated that a person could claim an average of $ 53 per week for household utility bills related to working time, compared to $ 26.50 if they opted for the fixed rate of 80 cents of time.
Despite the lockdown, median house prices in Sydney continued to rise in June, rising 3% to $ 1.224 million, new CoreLogic data showed.
Under special Covid rules which expired on Wednesday, Australians working from home were allowed to claim a flat rate of 80 cents an hour on taxes. But H&R Block said claiming the lower 52-cent hourly rate and adding up home electric bills would pay more. Pictured is a woman from Adelaide working from home
Since January, Sydney values have climbed 18.5%.
Darwin, another city on lockdown, has also seen an increase in house prices with values climbing 21.4% in the past year to $ 567,842, surpassing the annual increase of 19.3% from Sydney.
Brisbane, also on lockdown, has seen house prices rise 14.8 over the past year to $ 657,551.
During the Covid pandemic, house prices across much of Australia hit record highs, with apartment values rising at a much more moderate pace.
The 13.5% annual increase in Australian house prices in 2020-2021 was the strongest since 2004.
Despite the lockdown, median house prices in Sydney continued to rise in June, rising 3% to $ 1.224 million, new CoreLogic data showed. National house prices have risen to the fastest level in 17 years. Pictured is a house in Toongabbie in western Sydney
But CoreLogic’s head of research for Australia, Eliza Owns, said the lockdowns were likely to affect auction close-out rates and slow the momentum of rising house prices.
“It is difficult to say whether this momentum will be sustained in the coming weeks under lockdown conditions in parts of Australia,” she said.
“Sales volumes are likely to drop, but new listings added to the market also tend to drop during closings as properties are more difficult to sell.”
National house prices rose 15.6 percent in the past year compared to 6.8 percent for units.
With more people working from home and pushing up the prices of bigger homes, public housing advocacy group Everybody’s Home has predicted a 24% increase in housing stress, where more people struggle to pay rent or to pay off a mortgage.
“It’s a recipe for more housing stress, more homelessness and worsening inequalities,” spokeswoman Kate Colvin said.