PHOTO: SUPPLIED Taxpayers who use their homes as an “office” may be able to claim a tax deduction.
If you have been working from home instead of your normal office to keep your business going, then you should know what home running costs you can offset against your income.
If you run your business from home or are a contractor working remotely, there are various home running costs you can deduct against your income.
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Taxpayers who use their homes as an “office” in conducting their business may be able to claim a tax deduction for some of the following outgoings of the home:
A proportion of premises costs such as
- mortgage interest
- rates
- rent
A fair and reasonable proportion of other costs such as
adsense
- repairs and maintenance
- home building and contents insurance
- home internet plan charges
- Depreciation on equipment you use – computer, printer, office furniture, air conditioning, security alarms, carpets and curtains
- Telephone costs – 50 per cent of home landline rental costs and full deduction for overseas toll calls; full deduction for a dedicated work landline.
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