![]() ![]() ![]() Use your local councilĬouncil websites often have information about business activity in their area and support for home-based businesses. An answering service can help provide a professional appearance if you're busy with a client, or on the road and unable to answer your phone. A separate phone line helps keep business costs separate for taxes and reporting. You may need an extra phone line for business calls. There are many business centres offering virtual office facilities across Victoria. This option can simply provide a street address and answering service, but can also provide printing, copying and courier services as well as boardroom and meeting room hire. You can receive a street number address if you want to avoid offering a PO Box as your address. Set up a post office box (PO Box), or locked bag with Australia Post.Īustralia Post also offer a paid notification service that keeps you updated when mail needs to be collected from your post office box. If you don't have customers and clients visiting, you may want to avoid providing your home address. You'll need to provide contact information for your clients, suppliers, invoices and receipts. Contact information for your home business Home based businesses may be subject to the payment of land tax to the State Revenue Office. Beware of capital gains taxīe aware that if you use part of the home for a business, you may have to pay capital gains tax (CGT) when you sell the house, even if you didn't claim any deductions for mortgage interest or occupancy costs when you ran the business.Ĭheck the details on the ATO website or consult a tax professional. The cost of travel for business purposes is usually deductible so you may be able to claim the cost of trips between your home and other places if the trips are business related. ![]() The ATO website has a range of online guides and calculators to assist small businesses with their tax obligations. Home-based business occupancy expenses include: Home-based business running costs include: If you haven't set aside an area just for the business, you can only claim running expenses. If you set aside a specific work area, you can claim both. The Australian Taxation Office (ATO) allows you to claim these two types of expenses normally associated with running a home. There are two types of deductible expenses – running and occupancy expenses. ![]()
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December 2022
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