Home Office Tax Deduction South Africa

Based on the above leigh ann does qualify for a home office deduction. Instead a portion of a room or a designated area can still be considered a home office and will enable one to claim a tax deduction but this area would need to comply with all the general rules as. The expenses deemed deductible by the south african revenue service sars are determined by how you re remunerated.

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The square meterage of her home office 20m2 in relation to her house 200m2 is 20 200 which is 10.

Home office tax deduction south africa. And the south african revenue service sars does allow them to claim certain home office expenses and reduce their income tax liability says gerhard kotzé the managing director at realnet. Tax rates visit the covid 19 online resource and news portal at www sacoronavirus co za we are experiencing high call volumes and appreciate your patience during this time. A growing number of people now work from home whether they started their own business do some freelance work on the side work remotely for an employer or. X is an employee who is in receipt of commission income of r50000 a salary of r20 000.

Yes you may claim a deduction for the home office expenses you incurred as long as the study is used for business only then you can give sars a letter from your employer stating that they need you to work from home more than 50 of the time. Even with the lift of some restrictions the questions remains do i qualify for tax deductions. South africa is now on level 4 of lockdown and most employees are still working from home. The income tax act allows deductions for expenditure incur in the production of income however it still sets our specifically when such deductions.

Working on a home purchased for r1 million goslett says that if the homeowner works from home and uses 20 of the property as a home office based on the square meterage calculation they will be entitled to a tax deduction based on the interest charged on the remaining outstanding bond amount. Therefore leigh ann s home office deduction for the tax year 10 x r120 000 r36 000 r36 000 r5 000 r19 700. With the above being said the south african revenue services sars does not expect an entire room to be dedicated exclusively to the business. Guide to home office tax deduction.

My earnings are a straight salary can i claim a home office deduction on my tax return. 5 annexure a examples example 1 determination of home office deduction by an employee with income derived mainly from commission facts. Home office tax deductions in south africa if you work from home you may be able to lower your tax liability by deducting home office expenses.