15 September 2020
If your home is your main place of business, you may be able to claim the business portion of some expenses.
You may be able to calculate your home-based business running expenses using:
You may also be able to claim occupancy expenses, like rent, in certain circumstances.
Exclude your private living costs and keep records to show how you calculated your expenses.
You can’t claim the same expenses two different ways. The temporary working from home shortcut method is all-inclusive.
For example, you can't claim the full cost of purchasing a photocopier using instant asset write-off and also claim with the home shortcut method.
Remember, registered tax agents can help you with your tax.
Media: [Claiming deductions - home-based business expenses]http://tv.ato.gov.au/ato-tv/media?v=bi9or7onhhq133External Link (Duration: 01:12)
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