Tax news - Home office allowances
News of interest to any business owners with a home office.
Tax deductions are allowed for businesses with a home office, and the IRD has just announced the new ‘Square Metre Rate’ for the 2021 income year (1 April 2020 to 31 March 2021). The rate is $44.75 per square metre, which is up a little from the previous year.
Please get in touch if you are having trouble calculating your tax deduction for home office usage.