Sole Trader BAS

bubbletea

Please help, need to do BAS for my Sole Trader business...questions as below:

1) Sales during the period is zero (0), can I still claim GST of expenses?
2) What percentage of home expenses is normally allow for home office expenses?
3) Meals and other travelling expenses also claimable?

Thank you in advance...

yingwei..suoyi

1. If you are registered for GST, then yes.
2. There's no fixed rule. It really depends on how percent of your home or expenses are used for business purpose. For example, if you utilize 30% of your house as office or storage for business, then you can claim 30% rent or interest mortgage, then the latter has later capital gain tax issue.
3. Meals generally not claimable in Australia. Travelling expenses can be claimed if it is business related, such as visiting a tradeshow.

hope that helps:)

bubbletea

thx for sharing

高级用户选项

飘过。

迁移的笨鸟

2  Please be careful with home expenses. As far as I know ATO has new rule about it, the home loan interest can't be expense. Had better ask your CPA about it. But you still can claim water , electricty, gas(only winter)...
3  Meal can be claimed as  "advertising".

笑盈盈

Following are only my opinions:

1) Sales during the period is zero (0), can I still claim GST of expenses?
I think you can, given GST is irrelevant to profit, it is GST received minue GST paid.

2) What percentage of home expenses is normally allow for home office expenses?
You need to propotion between business use and private use. Check ATO rulings, coz some items have special exemption which means you may be able to claim in full.

3) Meals and other travelling expenses also claimable?
Traveling from home to client is not deductable but between office to clients you can. Special business exemption might apply too.