Home Office Expense Apportionment: Who Qualifies and What You Get
Therapists working from home can claim a portion of their household costs as a tax deduction.
This scheme allows therapists who work from a home office to claim a portion of their household running costs as a tax deduction.
Who it's for
This is for therapists who use a dedicated space within their home to conduct their professional practice.
What you get
You can claim a tax deduction for a specific portion of your household expenses. This includes costs for power, internet, and rates.
What it costs you
To use this scheme, you must accurately calculate the percentage of your home's floor space that is used for your office. You will need to keep records to support these calculations.
The catch to know
You cannot claim the cost of your entire house. You are only permitted to claim the specific footprint of the area used for your office work.
How to apply
- Determine the exact percentage of your home used for work based on floor space.
- Calculate the proportion of your utility and household bills that matches that percentage.
- Keep all relevant receipts and records for your tax filings.
- Check the official portal for current filing requirements.