A-Z index

Business income

Deductions
You can claim most expenses you incur in running your business as deductions to reduce your taxable income. As a general rule, you can claim your day-to-day business operating expenses in full, in the year you incur them. However, the costs of capital items (such as buildings, machinery and equipment) are generally claimed over a number of years.
Income and deductions for business
You can claim deductions for costs incurred in running your business, provided the expenses are not of a private or domestic nature.
Salary, wages and super
You can generally claim a deduction for the salaries and wages you pay to employees, and for super contributions you make for them and for certain contractors. If you’re a sole trader, you can usually claim a deduction for your own super contributions in your personal tax return.