Are utilities tax deductible if you work from home?
Date posted: Monday, June 15, 2015
Businesses get heaps of different tax deductions, from phone bills to utilities – but you work from home, so can you get the same deal?
The short answer: yes!
The long answer: well, it depends.
The Australian Taxation Office (ATO) has different definitions of what it means to work at home. Either you run your business at home, meaning your home is also your principal place of business (think having a home office set aside especially, or a consultation room where you see clients). Alternatively, you work from home, which means you have a main office/workshop somewhere else but you might still put in a few afterhours work at home.
No matter what situation you’re in, it’s definitely worth looking at what your eligible for so you save as much as possible come tax time.
At Pakenham Taxation + Accounting we’re experts in all the details business tax deductions and company taxation. Make this end-of-financial year easier for yourself and contact our team for further questions about what you can and can’t claim on tax.
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How to Avoid Tax Crime
Date posted: Thursday, May 9, 2013
We’re often impressed by people’s creativity when it comes to attempting to reduce their tax fees. The ATO however, is not always entertained and some individuals and businesses who take a DIY tax reduction approach can find themselves in trouble with the law. A DIY approach to tax reduction can be disastrous and costly. There is no substitute for professional advice. No matter how good you are at making investment decisions, a superior level of taxation management expertise is recommended, as the consequences without can be costly. There are perfectly legal ways to reduce your tax and keep yourself and your business out of the tax-crime-woods. As Pakenham’s leading taxation management hub, we’re able to provide solutions in these basic tax strategy areas:
- Earn tax-free income
- Tax advantage of tax credits
- Defer taxes
- Maximise your tax deductions
- Reduce your tax rate
- Shift Income to others
- Take advantage of your tax exemptions
Be sure to give us a call to make an appointment, for more information on tax saving strategies.