While the pandemic has forced many employees to work from home, you may be wondering if you now qualify for the home office tax deduction. We outline the requirements for employees to qualify below.
If more than 50% of your remuneration is comprised of commission you can also deduct commission related business expenses i.e. telephone, stationery, repairs to printer etc.
If the expenses relate to the residence as a whole, the expense must be apportioned as follows:
A/B x total costs, where
If the expense is a specific business expense then the entire cost is deductible.
If you have been working at home due to COVID-19 you will only be able to claim this deduction for the 2021 tax year if you will have worked from home for at least 6 months of the tax year and meet the requirements above.
If you are unsure if you qualify to claim home office expenses take our FREE pre-assessment to find out.
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