Home – New Forums Money matters Tax questions: Home Office Reply To: Tax questions: Home Office

#1130513
Past-Member
Member
  • Total posts: 1,815
Up
0
::

Please note that I am not an accountant and that you should check all this with your accountant and/or tax office.

From my understanding, you can claim part of it only as building structures form part of a deductible over a number of years for an area dedicated to your business. It was not your dedicated area prior to the fire, so it’s new expenses to depreciable assets (not repairs or maintenance).

This is why you need to ask for professional advice.
But the simple answer is no, you can’t deduct the full $80K in one year.

Cheers.