After some confusion regarding working from home costs and claims, the South African Revenue Service (SARS) has confirmed that full-time employees working from a home office will be able to claim for expenses.
Contract and commission workers are no strangers to these kinds of claims but the revenue service says full-time employees may now benefit from the offering as well.
The catch is, employees must work from their home offices for at least six months of the tax year. Those wanting to benefit from the home office claim will need to have been be working from home since the beginning of lockdown up until September this year at least.
Those working from home and looking to claim for home office expenses will also need to have a dedicated work area within their home to do so.
Claiming for home office expenses can also affect your resale value if you are a homeowner, however. If part of your home generates income as an office, it will be excluded from the capital-gains tax (CGT) break once you decide to sell, according to Business Insider.
Whatever percentage you claim for will also be liable for CGT at a rate of roughly 40%.
It is important to note that home office expenses covered by an employees’ respective companies will not be liable for tax claims. These could include data purchases and stationary costs.