Working from home? Accountants in Melbourne help you to gain tax benefits
Working from home has become a commonplace trend and if you too work part-time or full-time then you can claim tax deductions. Understanding the specific claims on the tax returns can save you a lot of money. Top Accountants in Melbourne help to specify the expenses into two categories - Home office occupancy expenses Home office running expenses Home office occupancy expenses Occupancy expenses refer to the costs that are associated with using your home as your workplace. In general, the home occupancy expenses are based on the percentage of your home as a workplace. This includes - Mortgage interest Rent Land rates Computer Internet and phone Office equipment Before making claims on the home office you must pass the interest deductibility test provided by ATO. This means that the area must display specific traits to qualify for the purpose. These include - The area should be used for b...