ASFA COVID-19 Resource Hub
To help the superannuation industry manage the far-reaching implications of the COVID-19 rises during this challenging time, ASFA has transitioned its events and learning courses to virtual formats and has made a range of resources available to members. You can get out all the details in one convenient location on the ASFA website. Learn more here.
$300 million SA CBD office building by Cbus Property
South Australian Government announces $300 million CBD office building to be delivered by Cbus Property
Cbus Super has congratulated the South Australian government and Cbus Property on their partnership for a new $300 million office building development, in the heart of the Adelaide CBD.
The South Australian Department of Planning, Transport and Infrastructure will act as an anchor tenant for the 83 Pirie Street building.
Cbus Super CEO David Atkin said the development would support up to 2,000 construction jobs during the Covid-19 recovery.
“Building and construction will be the frontline of Australia’s economic recovery.
“Cbus has supported over 95,000 construction jobs through Cbus Property while delivering strong returns for our members.
“Cbus Super is in a strong liquidity position and we are determined to play our part in ensuring a strong pipeline of construction work to help secure the economic recovery,” he said.
ATO to announce shortcut for working from home tax deduction claiming
The ATO is announcing special arrangements this year due to COVID-19 to make it easier for people to claim deductions for working from home.
The new arrangement will allow people to claim a rate of 80 cents per hour for all their running expenses, rather than needing to calculate costs for specific running expenses.
Multiple people living in the same house can claim this new rate.
Assistant Commissioner Karen Foat said the new shortcut method will make it easier for those who are working from home for the first time.
“If you choose to use this shortcut method, all you need to do is keep a record of the hours you worked from home as evidence of your claim.”
Claims for working from home expenses prior to 1 March 2020 cannot be calculated using the shortcut method, and must use the pre-existing working from home approach and requirements.
The ATO will review the special arrangement for the next financial year as the COVID-19 situation progresses.