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14 Oct 2021 Small Business Measures

Fact sheet: Home-based business expenses

If you have clients who are claiming deductions for home-based business expenses, the ATO’s updated fact sheet can help them understand when they may be able to claim running and occupancy expenses.

Is home your main place of business?

If you’re a sole trader or operate your business as a partnership, you may be able to claim some running expenses if your home is your main place of business.

You can use one of the following methods to calculate your expenses: 

  • Actual cost method
  • 52 cents per work hour fixed rate, which covers heating, cooling, lighting, cleaning and depreciation of furniture and furnishings
  • 80 cents per work hour temporary shortcut method, available from 1 March 2020 to 30 June 2021 and covers all expenses.

More information can be found here.

Navigating fuel tax credits

Fuel tax credits provide your business with a credit for the fuel tax (excise or customs duty) that is included in the price of fuel.

If you claim less than $10,000 in fuel tax credits per year, the easiest and safest way to get your claims right is to use the ATO’s simplified methods.

More information can be found here.

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