Deductibility of Home Office Expenses

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Do you have a home office? Do you park your work-related vehicle in your home garage? 

A business owner who uses part of their home as a home office to further conduct business, may be entitled to a deduction for the part of the outgoings that relate to the use of the home for the work-related activity. 

This will include a portion of the running costs of the home such as:  

  • Power 
  • Rates 
  • Insurance 
  • Interest on home mortgage 
  • House and contents insurance 
  • Repairs and maintenance 

The portion is based upon the ratio of the total area used for the income-earning activity (such as office and/or garage) over the TOTAL are of the house.  

Most accountants will ask for this information from their clients when they complete their end of year accounts. Ensure that your Home Office expenses have been provided to your accountant so you can claim this additional tax deductibility. 

Need more information on your home office claim? Send us an email and we can help you through it.  

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