Running a Business or Working at Home: Claims and CGT Impact

Explore the tax traps of working from home, including the main residence exemption, CGT impact and GST considerations.

In this session, we cover:

• Which home expenses are deductible?

  • Occupancy v running expenses

  • Is part of the home a ‘place of business’?

  • Actual v fixed rate method for claiming home running expenses

• Impact on main residence exemption

• Could capital gain be reduced by small business CGT concessions? 

• Can downsizer contribution be made?

• Making changes to the home – who can claim capital allowances?

• Home as a place of business – does GST apply to eventual sale?