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Home office tax claim

Discussion in 'Introductions' started by Josephine, 9th May, 2016.

  1. Josephine

    Josephine New Member

    Joined:
    9th May, 2016
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    1
    Location:
    Brisbane
    Hi, I bought a townhouse and work as Sales Rep. Home office. Last year, my tax agent advise me not to claim office space, electricity, Internet and other related expenses for it will effect my capital gain. Is that right? Please advise.
    Thank u
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

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    13th Jun, 2015
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    5,578
    Location:
    Adelaide, SA
    Yep

    So depends whether that's an issue to you or worth it.
     
  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Propin likes this.
  4. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,363
    Location:
    Sydney
    A home based study and a place of business are different.

    Occupation expenses such as electricity, internet etc are not indicators of a CGT concern. A share of the ownership costs would be (interest, rates etc). All tax agents should be able to explain the difference.

    Ideally your employer should have an expectation of what work you may do at home as the ATO will often ask for a employer letter. ie a Bank worker who works from home 2 dpw and has a facility approved by the bank would be far more likely to get deductions past ATO than a bank worker who tries to explain that they work 3 hours a day - And they are a teller.