Housework & tax deductions

Today let’s talk about housework – working from the house that is, not cleaning the house!

Working from home has never been easier or more convenient – super fast broadband (for some!); reliable technology and long commutes mean that for many employees, it’s an attractive option. And with the rise of the gig economy and many choosing to go solo with the benefits of being your own boss, it’s super important to maximise your home office expenses and not fall on the wrong side of our friends at the Australian Taxation Office (ATO). Today, we will aim to do all that and leave you with more time to relax (who cares about the housework!). Continue reading “Housework & tax deductions”

Personal Services Income – Are you affected?

This week I was asked a fairly straightforward question – I am a sole trader, operating with an ABN, can I claim travel to client premises? What’s the big deal you say, of course she can! But as is always the case with tax, the devil is in the detail. The other part of the email gave me some more facts. There is only one client, payment is made on an hourly rate and the travel involves a three hour round trip by car. Suddenly Personal Services Income (PSI) alarm bells were ringing and the answer becomes much more complex. Continue reading “Personal Services Income – Are you affected?”