Recent Posts

 
 
 
 

Tax considerations if you work from home

The information in this article will be relevant to you if you work from home but your home is not your principal place of business.

Whether or not you can claim deductions relating to the area of your home you use wil depend on which of the following categories you fall into:

  • Your principal place of business is not your home but you have a dedicated work area like a study that is set aside primarily for work activities
  • Your principal place of business is not your home and you do not have a room or area set aside primarily for work, but you do carry out some work at home – for example in the lounge room on weekends.

The table below sets out which deductions you may be able to claim if you fall into one of the two categories above and your home is not your principal place of business.

Deductions you may be eligible to claim If you do have a work room or area If you don’t have a work room or area
Utilities like electricity and gas for a room Yes Yes
Phone costs related to work Yes Yes
Depreciation (decrease in value) of relevant equipment like computers and desks Yes Yes
Depreciation (decrease in value) of fittings and floor and window coverings Yes No
Expenses related to occupancy like rent, mortgage payments and rates No No

Implications for capital gains tax

If you own your home and are entitled to the exemption from capital gains tax for main residences, this will not be affected by you falling into one of the two categories outline above (your home is not your principal place of business and you do or don’t have an area dedicated to it). The situation may be different, however, if your home is your principal place of business.

For more information on Etax, Mytax and online tax return, please contact us at 1300 698 297 or you can email us at info@mytaxrefundtoday.com.au

HOW IT WORKS

Why Wait For 2 Weeks…? Get Your Tax Refund Today !

FREE TAX REFUND ESTIMATE

Free Tax Refund Estimate

How did you hear about us?

yes I accept the Terms & Conditions of this website and authorize My Tax Refund Today (ABN 87145232319 and tax Agent no 23282009) to add me as a client in Tax Agent Portal

DON'T WANT TO WAIT 2 WEEKS? 

 

ASK US FOR OUR
1 HOUR TAX REFUND OPTION!

FREE TAX REFUND ESTIMATE

 

MTRT

  • I would like to thank your team for a hassle free and fast tax refund. All of the problems related to employer tax papers were sorted on the spot. I have already recommended you guys! Thank you and see you next time

    Danijel
  • Very good experience. Friendly staff. Easy and convenient process. No problems at all. I will use them again in future.

    Melissa
  • Both me and my husband found the tax refund process a smooth one and at the time we were in need of funds quickly and Raj was accommodating to our needs. The process was simple, easy and the outcome desirable. We would certainly consider using this service again and we have recommended this to our friends without hesitation

    Domenica
  • My experience with your company was excellent as I left it to the last minute. They sorted me out with no problems and no fuss

    Allen

© copyright 2020 My Tax Refund Today All right reserved  |  Terms & Conditions  |  Privacy Policy  |  Disclaimer

back to top