Setting up a home-based business
If you're considering setting up a home-based business, you can claim a deduction for expenses incurred in using your home as part of the business.
Generally you'll be able to claim electricity and the decline in value of office furniture. In some limited circumstances you may also be able to deduct part of your rent and mortgage interest.
Duration 4m:30s. A transcript of Business deductions – Home office expenses: Tax basics for small business is also available.
This video explains the expenses you can and can't claim as a deduction in your business.
If you're considering setting up a home-based business, you'll need to separate your business and private expenses.