Home Office Expenses

Nov 26, 2014

One of the more frequent questions I am asked is ‘what can I claim for my home office?’. Unfortunately, I can only answer that question with questions of my own before we can determine any answers. My questions are as follows (and these are not necessarily exhaustive):

  1. Are you in business or are you an employee?
  2. Do you have a dedicated office/study in which only business (or work related activities) are carried out?
  3. Do clients come to your premises on a regular basis?
  4. Do you have a sign advertising your business in front of the house?
  5. Do you rent or is the house yours (and the bank’s)?

As you can imagine, the answers to what you can claim as a home office expense really depend on a number of different and individual factual scenarios.

Contact me after reading the above and I can let you know YOUR potential deductions.