Serviced Offices - tax deductible?

[Ferrets]

I have a shot at doing some contracting, but may require to take some serviced office space as I can't currently run out of a home office (in short term accommodation at the moment).

 

As I will be an individual and not a business does anyone know if this expense would be tax deductible?

 

Any thoughts would be much appreciated.

 

Cheers

Ferrets

[Parley]

I'm sure it would be.

[Ken]

I have a shot at doing some contracting, but may require to take some serviced office space as I can't currently run out of a home office (in short term accommodation at the moment).

 

As I will be an individual and not a business does anyone know if this expense would be tax deductible?

 

Any thoughts would be much appreciated.

 

Cheers

Ferrets

 

Unless you plan to be an employee of each of the companies you'll be contracting for then you'll be operating a business regardless of whether or not you are an individual. You'll be required to have an ABN and will have all the bureaucratic and tax advantages and disadvantages that running a business entails.

[Ferrets]

Thanks for the insight.

 

I will be employed by an agency and contracting for a single company - so I do not think that automatically becomes a business, as I am not required by the agency to provide an ABN.

 

Does that make sense?

[Ken]

Thanks for the insight.

 

I will be employed by an agency and contracting for a single company - so I do not think that automatically becomes a business, as I am not required by the agency to provide an ABN.

 

Does that make sense?

 

Yes, that would mean you're not a business and means that it's not as easy to claim deductibles. I've not come across an employee needing a serviced office before so I can't say for certain that would be deductible but if it's necessary for your employment that should be the case (but I'd be looking it up to be sure if you were my client!).