Income and deductions for small business

About this guide

If you operate a small business as a sole trader, partnership, company or trust, you can use this guide to help you:

• work out your assessable income
• work out your allowable deductions
• claim common deductions
• understand the credits and tax offsets that may be available to you
• lodge an annual tax return
• access other useful publications and products.

Throughout this guide you will find important notes (look for the symbol) that will help you with key information.

You will also find 'more information' boxes (look for the symbol) that will show any further steps you may need to take or extra information you may need to refer to.

This guide supplements Tax basics for small business (NAT 1908), which contains important tax information you should know if you are new to business.

Sections within About this guide

• How to obtain this publication