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Prepaid expenses - taxpayers carrying on a business, other than small business entity taxpayers

 
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Overview

The prepayment rules determine how much you can claim in an income year for certain prepaid expenses. This fact sheet explains the general prepayment rules for taxpayers carrying on a business, other than small business entities, with deductible business expenditure.

Broadly, a 'small business entity' is an individual, partnership, company or trust carrying on a business and which has an aggregated turnover of less than $2 million.

Last Modified: Wednesday, 25 June 2008
 
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