Watch If you operate some or all of your business from your home, you may be able to claim tax deductions for home-based business expenses in the following categories: For a summary of this content in poster format, see Home-based business
expenses (PDF, 277KB)This link will download a file There are recent changes to claiming your tax deductions: When you sell your home, you may have to pay capital gains tax (CGT). It's important to keep the right records to work out your deductions or CGT. If you’re entitled to goods and services tax (GST) input tax credits, you must claim your deduction in your income tax return at the GST exclusive
amount. On this page See also A home-based business is one where your home is also your principal place of business. That is, you run your business at or from home, and have a room or space set aside exclusively for business activities. A home-based business can be run:
If your home is not your principal (or main) place of business but you do some work from home, you may still be able to claim a deduction for some of your expenses relating to the area you use. Examples of businesses that can be home-based
Type of business structureIf you carry on a home-based business, you need to use the right method to calculate your expenses based on your business structure. Next steps
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If you operate some or all of your business from home, you may be able to claim tax deductions for home-based business expenses. Last modified: 15 Oct 2021QC 33864 |