Income tax Dates
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APR 1Final date for ratio option provisional tax applications.
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APR 8End-of-year income tax and Working for Families bills are due if you have an extension of time to file your income tax return.
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MAY 7Provisional tax payments are due if you have a March balance date and use the standard, estimation or ratio options.
If an expense relates to both income-earning use and private use, work out how to apportion (split) it.
Examples may include rates, insurance, internet and power bills, repairs for general wear and tear.
Use the following formula to work out how much you can deduct for the expenses that need to be apportioned.
Add up all expenses that need to be apportioned
This is the total amount of expenses you need to apportion between income-earning and private use.
Count the days your asset was used
Include both your income-earning and private use days over the income year.
The combined amount is your asset's total usage.
Divide your income-earning days by total usage
This is your divided amount.
Multiply the total expenses figure by your divided amount
These are your apportioned expenses - the share of your mixed-use expenses that you're allowed to claim.
Add your apportioned expenses to your fully deductible expenses
These are your total deductible expenses. In your tax return you can deduct these expenses from the income you earned from the asset.