All self-employed people, including contractors and sole traders, can claim expenses against their income.
What you can claim for
Business expenses can include:
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vehicle expenses, transport costs and travel for business purposes
rent paid on business premises
depreciation on items like computers and office furniture
interest on borrowing money for the business
some insurance premiums
work-related journals and magazines
membership of professional associations
home office expenses
work-related mobile phones and phone bills
stationery
work uniforms
tax agent’s fees.
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If you own an investment property, expenses you can claim for include:
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repairs and maintenance (but not renovations that substantially improve the value of the property)
professional services fees, like accountants, lawyers or property managers
rates and insurance
mortgage repayment insurance
vehicle and travel expenses when you travel to inspect your property or do repairs
depreciation on capital expenses, like whiteware, appliances or heat pumps
legal fees involved in buying a rental property, as long as the expense is $10,000 or less.
How much can you claim?
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You can't claim the whole cost of all items, even those only for business use. Some things you can only claim half for, eg some entertainment expenses. You can only claim 100% of the cost for an expense that’s entirely for business use.
If you have an expense that’s partly for your business and partly for your private use, you can claim the proportion that relates to your business.
Example:
If you spend half the time driving a vehicle to deliver goods and the other half for your own reasons, you can claim 50% of the travel costs for your business.
For some expenses, like business entertainment, eg client meals and staff functions, you can only claim half.
Working from home
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If you use an area of your home for your business, eg your study or garage, you can claim a portion of the household expenses, eg:
rates
power
house and contents insurance
mortgage interest if you own the home
rent if you are renting the home.
You must keep invoices for these expenses.
How it works
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If your home is 100 square metres and your working space is 10 square metres — 10% of the total area — you can claim 10% of expenses that are not solely for your business, eg your home phone line.
If you aren't using a separate area of your home for business, you'll need to take into account how much time you spend on your business and the area used.
If you're GST registered, the GST content on home office expenses can be claimed as they’re paid — in each GST return period — or at the end of your tax year. Mortgage interest and rent don’t include GST.
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Christmas gifts stolen from parked car prompts warning over holiday break-ins
An Auckland man whose Christmas presents were stolen from his car on a quiet street is warning others not to repeat his mistake.
Police and the AA say opportunistic thieves are breaking into cars more frequently during the Christmas period.
Jeremy Rees, an RNZ staff member in Auckland, had packed his car full of gifts when he decided to visit a friend.
“Everyone had handed over presents and we had a couple of bags full of presents sitting in the back of the car,” he said.
“I decided it would be great to go around and see a friend, drop off some presents and say hello. My wife said to me, ‘Are you sure we should be taking this car?’ I said, ‘I’m sure it’ll be fine’.
“I think it was only 20 minutes outside their house, a very quiet street. It was light [outside]. We came out and my wife pointed out that someone had smashed the rear window, reached in and grabbed the presents, and headed away.
“It was a shock. It was a shock partly because of the Christmas presents and partly because my wife had been telling me, ‘Don’t do that’.”
AA Insurance head of motor claims Beau Paparoa said roadside staff were responding to smashed windows more often.
“We definitely see car break-ins starting to occur a lot more around this time of year. We’re often hearing from customers and some of our roadside teams that there’s definitely a bit more opportunistic theft happening,” he said.
“We’re putting that down to it being a busy time of year. Everyone’s out doing their Christmas shopping and there’s much more presence of gifts and valuables being visible in the car.”
He encouraged people to be careful and make sure valuables were hidden from view.
“In terms of any valuables, if you’ve done some Christmas shopping, or if generally you’ve got valuables in your car, try [to] keep them locked away or out of sight – in your boot if you can,” he said.
“Where you’re parking is possibly a good thing to think about. If you can afford to, don’t park on the street, but if you have to park on-street, make sure you park in well-lit areas.”
Police said it was not uncommon for Christmas presents to be stolen.
“The key is to remove any opportunity. This includes taking valuables or documents out of vehicles wherever possible,” a spokesperson said.
Rees said he wished he had followed that advice.
“I feel a bit stupid, to be absolutely honest. I read all of the things from police saying ‘don’t do this, don’t pack your car, don’t just leave it on the street’, and I did exactly the opposite and I paid the price.”
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Auckland Harbour Bridge summer works
NZ Transport Agency Waka Kotahi is carrying out essential maintenance on the Auckland Harbour Bridge this December and January. The southbound clip-on lanes will be closed (24/7) from 26 December to 5 January for road resurfacing. Night-time lane restrictions will be in place throughout the summer for recoating work on the bridge. Traffic will still be able to travel in both directions at all times.
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