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Calculating the tax adjustments

Home office

The home office adjustment is traditionally a steady expense that could be adjusted for throughout the year. Would you consider making this adjustment during the year? What changes to your software would assist you with making this adjustment?

Comments

Bruce Stone
Home Office expenses are usually adjusted by the external adviser, who reviews it for reasonableness. Leaving it in the software package means mixing personal expenditure with business expenditure and I would hate to see the abuse this would lead to.

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2 months ago
Guy Lincoln
Surely this could be done at the end of the year?

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2 months ago
Jane Fitzgerald
This doesn't apply to our business.

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2 months ago
Julene
I could adjust for this throughout the year.

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2 months ago
Rachel
I already adjust for this during the year - once you know what you can claim and what percentage it's easy.

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  • agree3
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2 months ago
DAvid Quinn
I leave this to my Advisor at the end of the year

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2 months ago
Karen Silk
Home office adjustments are usually pretty similar (unless there is a change of circumstance). It would be easy to put in a monthly amount based on last year and then do a wash up at the end of the year.

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2 months ago
Christine Robinson
It could be done.

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2 months ago
Janise Nelson
Dont have a comp. Programme

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2 months ago
Christopher Smith
Not a problem Can be done monthly if required

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2 months ago
Elaine Dyett
I am happy for my home office to be adjusted for during the year, it would not be hard to estimate.

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2 months ago
James Beavis
This adjustment is made by my company with each get return so will not be a problem

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2 months ago
Geof Franks
I claim home office expenses at the end of the year, and would probably continue to do so. It just means my final tax payment will be lower than the preceding payments if I chose to wait to aggregate these expenses. I don't have a problem with that. The principle of moving to tax payments in line with revenue receipts is welcomed, as my revenue levels aren't steady across the year. A PAYE-equivalent will be good. And it should also eliminate the situation I had for the tax year just ended where I had to make a large provisional and GST payment, and then immediately claim a year-end tax refund of almost the same amount. I shouldn't have needed to pay the (based on last year's income) provisional payment when this year's income was lower. I had to make the payment then get it back as a refund.

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2 months ago
Chris Davidson
Leave this until the end of the year

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2 months ago
Kelly Walker
its easier if it is just calculated once a year and then the same repeat payment is made. to keep recalculating seems time consuming and will mean that I have to enter other personal data into our business records that I don't currently do on a regular basis.

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2 months ago
John Penney
Our home office expenses are apportioned on a per-transaction basis throughout the year. No issue.

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2 months ago
Sandra Kraakman
Year end would be a sensible approach for this.

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2 months ago
Paul Dunmore
Frankly, I could never be bothered calculating and claiming home office expenses. I know this means I have always paid a little more tax than I need to, but the likely saving has never seemed worth the hassle.

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2 months ago
Jan Booysen
I imagine it could be accounted for on an on-going basis. It is a steady (fixed) expense and has been for many years.

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2 months ago
Bernadette
Happy to account for this through the year

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1 month ago
Margaret Baker
Hi With the simplification of tax standardising home office claims, I imagine the size of the claims will be fairly small. I don't see the need for them to be spread monthly, unless the software uses last year's figures and a final washup is made end of year for current year claim.

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1 month ago
Ross Williamson
I leave this to my Advisor at the end of the year

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1 month ago
wendy wiley
this could be left for the end of the year bit

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1 month ago
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