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Re: Deductions

This post is archived and may not be up-to-date.

Newbie

Views 1742

Replies 1

Can I claim deductions for my business AND my part time job?

Pt job - teacher - sunscreen, stationary supplies, student prizes etc

Business - Copywriter - website development, laptop, internet, home office etc

Where this is an overlap (internet, some office supplies etc), where should I put the expense?

Thanks,
V

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Certified Response

Guest contributor

Replies 0

Hi @Hellowords,

 

Thanks for another question!

 

Generally speaking you can claim deductions against both your income earning activities. We have provided some specific advice for teachers about the deductions they can claim on our website. There is also some advice about the sorts of deductions your business can claim. You should note there are sometimes different rules as to whether an expense can be claimed  depending on whether the expense was incurred in your employment or business income earning activities.  For instance here is some advice for home offices for an individual and some rules for the home office for a business.

 

You need to apportion your expenses between the two income earning activities and your own personal use and that will give you a clearer of whether the expense can be deducted, the amount of the deduction and the place to report the deduction in your return.

 

Hope that helps.

 

1 REPLY 1

Most helpful response

ATO Certified Response

Guest contributor

Replies 0

Hi @Hellowords,

 

Thanks for another question!

 

Generally speaking you can claim deductions against both your income earning activities. We have provided some specific advice for teachers about the deductions they can claim on our website. There is also some advice about the sorts of deductions your business can claim. You should note there are sometimes different rules as to whether an expense can be claimed  depending on whether the expense was incurred in your employment or business income earning activities.  For instance here is some advice for home offices for an individual and some rules for the home office for a business.

 

You need to apportion your expenses between the two income earning activities and your own personal use and that will give you a clearer of whether the expense can be deducted, the amount of the deduction and the place to report the deduction in your return.

 

Hope that helps.