Sign up with GoogleHi all,
Hoping to get some advice.
I work from home for a company and so have a home office. I also have an uncapped fibre line. I understand there's two ways the internet usage for business can be claimed back or offset: Fringe benefit or home office deduction.
The problem with home office deduction is that the square meterage of the office space is not that big compared to the rest of the house, and therefore the claim back is minimal (11%), and is in fact far less than the actual usage of the line for business use (around 60%+).
Am I correct in saying that it would be better for the company to pay for the entire internet account, and while normally this would create a fringe benefit for the "personal usage" side, it would not be taxable in this case because more than 50% of the internet account is used for business?
I know cellular airtime/data is different, in that it must be calculated on exactly what's used for personal vs business, but I'm not sure if uncapped fibre falls into another category allowing for the above?
Any help would be appreciated!
Hoping to get some advice.
I work from home for a company and so have a home office. I also have an uncapped fibre line. I understand there's two ways the internet usage for business can be claimed back or offset: Fringe benefit or home office deduction.
The problem with home office deduction is that the square meterage of the office space is not that big compared to the rest of the house, and therefore the claim back is minimal (11%), and is in fact far less than the actual usage of the line for business use (around 60%+).
Am I correct in saying that it would be better for the company to pay for the entire internet account, and while normally this would create a fringe benefit for the "personal usage" side, it would not be taxable in this case because more than 50% of the internet account is used for business?
I know cellular airtime/data is different, in that it must be calculated on exactly what's used for personal vs business, but I'm not sure if uncapped fibre falls into another category allowing for the above?
Any help would be appreciated!