July 6, 2022

Home office expenditure

Taxpayers who are salaried employees have limited deductions available to them. However, home office expenditure can be claimed as an income tax deduction, but the onus is on the taxpayer to prove that the expenses are in fact deductible. For employment to constitute a “trade” and to qualify to deduct home office expenditure, the taxpayer should prove that the home office: Is specifically equipped for this purpose: the home office must be equipped with the necessary tools and equipment required to render the trade (desks, chairs, computers, printers, trade-specific equipment, etc.). A lounge, living room, or empty, unoccupied room will […]
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