Claiming Your Home Office Costs – The Spare Bedroom Myth!
At Complete Business Strategies we regularly get asked about the myth of home office deductions.
The answer to this question is always guided by your specific circumstances. But, as a general rule, expenses associated with renting or owning your own home (that is, occupancy expenses) are of a private or domestic nature and do not qualify as a tax deduction.
The good news is this is not always the case. If you think you are entitled to an office claim then give us a call and we will work with you to legally maximise your deductions. We may even be able to structure a claim for your home mortgage interest!!
If however, you think your expenses are tax deductible because your mate at the weekend BBQ has told you he claims 19% of his house costs as a tax deduction for his computer in his spare bedroom, then you should read the information provided through the link below on what the tax law actually allows.
Alternatively, give our office a call on 5493 1600 and speak to one of our qualified experts and let us help you reduce your tax without the audit risk.
Complete Business Strategies and Active Financial Answers strive to provide innovative solutions to legally minimise the tax payable on our clients' hard earned income. We can advise you on how to structure your business to entitle you to a deduction for your office costs and whether that will be beneficial for you. Please call us right now on 5439 1600 to talk about your options.
For more information and examples please follow this link.