SBDC e-news – September 2016 Home-based businesses

Tax requirements for home- based business

With a growth in the number of home-based businesses, the Australian Taxation Office (ATO) has created a list of essential information for this sector.

A home-based business is defined as having activities that are conducted at the home location, such as tutoring, or could be where the business activities are conducted off-site, for instance tiling or bricklaying.

The ATO states that expenses incurred in operating a home-based business can be claimed in a similar way to other businesses. However there are some special considerations relating to expenses for vehicles and the area of your home where the business is conducted, which may have tax implications.

If you are home-based business, you can find out more information at the ATO.