19/08/2026
๐ง๐ถ๐ฝ๐ ๐ณ๐ผ๐ฟ ๐ฐ๐น๐ฎ๐ถ๐บ๐ถ๐ป๐ด ๐ต๐ผ๐บ๐ฒ-๐ฏ๐ฎ๐๐ฒ๐ฑ ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐ ๐ฒ๐
๐ฝ๐ฒ๐ป๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฎ๐
๐๐ถ๐บ๐ฒ.
If you run your small business from home, tax time is a good opportunity to make sure youโre claiming the deductions youโre entitled to.
Depending on your circumstances, you may be able to claim the decline in value of depreciating business assets (such as laptops, desks and office furniture) or running expenses associated with operating your business from home. This includes:
โข electricity for heating, cooling and lighting
โข phone and internet expenses
โข office cleaning costs.
๐ช๐ผ๐ฟ๐ธ ๐ผ๐๐ ๐๐ผ๐๐ฟ ๐ฒ๐
๐ฝ๐ฒ๐ป๐๐ฒ๐
Many home-based business owners use the fixed rate method to calculate their work-from-home running expenses. This method allows you to claim a set rate per hour worked from home and can simplify record keeping. Keep in mind that some expenses are already covered by the fixed rate and canโt be claimed separately.
If you have a dedicated area in your home that is used as a genuine place of business, you may also be able to claim occupancy expenses. This may include rent, mortgage interest, council rates, land taxes or home insurance. Eligibility depends on your individual circumstances.
Whatever method you use, remember you can only claim the business portion of your expenses, and youโll need records to support your claims.
๐๐ฒ๐ฒ๐ฝ ๐ด๐ผ๐ผ๐ฑ ๐ฟ๐ฒ๐ฐ๐ผ๐ฟ๐ฑ๐
Good record keeping throughout the year can make it easier to prepare and lodge your tax return. You need to keep most records for 5 years, so you should store them in a safe place. They should also be written in English or easily converted to English.
๐๐ต๐ฒ๐ฐ๐ธ ๐ถ๐ณ ๐๐๐ง ๐ฎ๐ฝ๐ฝ๐น๐ถ๐ฒ๐
Itโs important to remember, when running your business from home, you may be liable for capital gains tax (CGT) when selling your home. If eligible, you may be able to reduce your CGT by applying the small business CGT concessions.
If you have any questions about claiming home-based expenses please reach out to us.
