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Wednesday, August 7, 2013

To claim the home office or not to claim the home office; that is the question.

Let's get one thing straight - I'm not an Accountant.  I do not own, nor will I ever own, a brown cardigan!  Oh actually I just realised that's a lie - I do remember owning a brown cardy once - but brown was waaaaay cooler in the 70s...

I'm a Financial Planner who is completely surrounded by tax experts - my partner, my father, my brother, my uncle, even my 19 year old step-daughter is at Uni studying tax!  So I do get asked a lot of tax questions, especially at this time of the year.

One of the most common (not to mention the most commonly misunderstood) is what's deductible when it comes to the home office.  And it's important to understand that from the tax office's perspective there's a significant difference between "working from home" and "working from a home office".  So first you need to....

Hang on!  I just mentioned I'm surrounded by tax experts, so why should I do the hard work?

Click here for a short and easy to read ePaper written by Dean Hendrie (the brother tax expert), outlining what qualifies as a "home office" and what deductions you can claim.

Of course, if you'd like to hear more of what I have to say on the matter, click here for a recording of my most recent "You & Your Business" radio segment on 98.1FM Radio Eastern.

Talk soon,

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