Open Source Content Management

As the title says. I work from home. What portion of my rent, if any can I deduct when calculating my taxable income?

Hi

You would be able to deduct the portion relating to the office space.

Meaning if your property is 100m2 and 20m2 of that is your office and you pay rent of R4 000 you can deduct R4000*20/100.

Hope this makes sense.

Just also remember that you can only deduct this should you not have an office somewhere else.

I attach something more for you to read.
C:\fakepath\Home Office Expense Deductions.pdf

Thanks. Your attachment does not seem to be showing.

HI

www.sars.gov.za/home.asp?pid=55886

Select No 28 and read that and let me know if you have any other questions.

Deductible office expenses is the following:
Rent paid,
electricity,
bond repaid,
ect get the sum of that all and then work it out according to you office area/home area.
Where your office area is that space that is occupied by your desk, chair, pc, printer, ect.

HI again,

If we have a bond of R3500 on our home for instance - can I claim the portion of rented space used for business percentage from there? and also a businesses percentage from the monthly interest?

Is it better to charge the company rental from me personally and then submit that as an additional income on my private tax return?

I am confused about depreciation on a computer for example. If I purchased one for R6000 and the depreciation is over 5 years (do you have a link to the depreciation periods for assets that you can send me a link to or imformation?) - back to the question - If I purchased a computer for R6000 and the depreciation is over 5 years - what do I do with the EXPENSE part of the cash that I paid for the computer as this will affect my bank account? (i.e. the R6000 I paid for the computer?) What do I do if I paid cash for the computer and/or what do I do if I buy the computer on HP and there is a debit order for isntance going directly off the bank account? How are these allocations made?

You first work out what is your area of your office. That basically is the place your desk, computer, phone, and chair occupies, as a percentage of you total home.

You can deduct that % of all your home expenses, like your bond, electricity, water, rates and taxes.

and the post re the computer depreciation?

Hi, im new to the forum and on this topic, working from home and claiming rent, how does this affect the Capital gains tax on my property?

thanks:)

you only have to start to worry bout CGT on your property once you sell your property. The business expense that you claim for using your property have nothing to do with CGT

Hope it helps