It has been Revenue practice to allow mortgage interest in the calculation of a claim for home office expenditure. Therefore, for the period ending on 28 February 2022, that is, up to the end of the 2022 year of assessment, you may claim the interest on your mortgage bond. The interest incurred must be apportioned under the normal apportionment rules.
However, section 23(m) only permits employees to claim home office deductions that are permitted under sections 11(a) and (d). Interest on a mortgage bond is an expense that is claimed under section 24J, and is accordingly prohibited from being claimed in terms of section 23(m). Consequently, for the period commencing on 1 March 2022, that is, from the 2023 year of assessment onwards, mortgage interest will not be permissible in the calculation of a claim for home office expenditure.