If all or part of your employment activities are carried out from home – you would be pleased to know that a portion of the expenses of running your business from home are tax deductible on your tax returns South Hedland.

You ideally should set aside a room to serve as your home office, athough this is not a requirement. If you use a room shared with others (for example, a lounge room), or a room with a dual purpose (for example, a dining room) – you can still make home office claims when you lodge your tax return online or offline.

You can do this by claiming the expenses for the hours you spent exclusively using the area. It might be good to consult with tax accountants in your local area to find out more useful tips on how to sort things out.

Some of the expenses you can claim on your tax returns South Hedland include:
- Lighting, cooling, and heating
- Depreciation or decline in value of furniture and fittings in your home office
- Depreciation or decline in value of computer and office equipment
- Actual expense basis claiming of internet costs, telephone, stationery, and computer consumables

Methods Of Claiming Home Offices Expenses When Lodging Your Tax Return Online Or Offline
1. Actual running expenses / diary method
Keeping a diary is one way to calculate how much of your home office running expenses is related to work. You need to keep this diary as detailed as possible, especially when it comes to taking notes of the time you spend in the home office. Keep a four-week period diary record. You can ask help from tax accountants if you are not too sure on how to go about things.

2. Tax rate per hour
There’s a fixed rate of 34 cents per hour that you can use to calculate home office expenses for lighting, cooling, heating, and depreciation of office equipment. Instead of keeping details of actual costs, you can use this method when making claims on your tax returns South Hedland this tax year.

All you need to do is keep a record of the number of hours that you use your home office. When you preparing and lodging your tax return online or offline, simply multiply that number by 34 cents per hour. You should know, though, that you cannot claim decline in value of furniture when using this method.

Other home office expenses you can claim include:
- Depreciation of the home
- Rates and taxes
- Mortgage or interest costs

You can ask record cards from tax accountants to make your life easier, especially when keeping these important records.