QUAL­IFY FOR

TAX DE­DUC­TIONS

Weekend Argus (Saturday Edition) - - PROPERTY360 -

SELF-EM­PLOYED in­di­vid­u­als and em­ploy­ees who of­ten work from home may be able to claw back some of that cost from the tax­man, says Ger­hard Kotzé manag­ing di­rec­tor at RealNet Prop­er­ties.

How­ever, there are some con­di­tions that must be met in or­der to qual­ify for home of­fice de­duc­tions.

First, if more than 50% of your in­come comes from a salary, you can only qual­ify if your em­ployer al­lows or re­quires you to work from home and you spend more than half your work­ing hours in your home of­fice.

How­ever, you should qual­ify if most of your in­come (more than 50%) comes from com­mis­sion and your em­ploy­ers do not pro­vide you with an of­fice at their ex­pense.

You will def­i­nitely qual­ify if you are a small busi­ness owner or a free­lancer who al­ways works from home.

Sec­ond, Kotzé says, you must have a spe­cific part of your home which is used ex­clu­sively as your of­fice.

“You can’t just work off your din­ing room ta­ble or hold meet­ings in your TV room. You need to have a sep­a­rate space that is per­ma­nently set up for work and prop­erly equipped with what­ever you need to do your job.”

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