Claiming Home Office Expenses in 2022

Business Development Specialist - Ceebeks Business Solutions for GOOD

As the trend for working from home, either part or full time continues, the ‘short-cut’ method for claiming home office expenses as a result of the COVID enforced lockdown has been extended for another year – the 2022 financial year. The ‘Shortcut’ method involves keeping a record of the actual hours worked from home and…

Hiring your children and family members can be a powerful tax strategy

Business Development Specialist - Ceebeks Business Solutions for GOOD

There is a legal principle that some small business owners cannot employ themselves. This means a sole trader, individuals in a partnership, and individuals acting as trustees for a discretionary trust, cannot be employed by their business. But there is, however, nothing stopping other family members being employed by your business. Just because someone employs…

Short cut method for claiming Home Office Running Costs

Business Development Specialist - Ceebeks Business Solutions for GOOD

With many of us now running our businesses or having our work-related duties conducted remotely during the lockdown, can we claim home office type expenses on our 2020 income tax return? The Australian Taxation Office (‘ATO’) has announced a temporary simplified short cut method to make it easier for individual taxpayers to claim deductions for…