A-Z index

Business income

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.
Primary production, professionals, sports and entertainment
Special tax rules or concessions may apply to your assessable income if you're a primary producer or special professional.
Providing taxi travel services through ride-sourcing and your tax obligations
Ride-sourcing services (also known as ride-sharing, ride-booking, taxi or ride-hailing services) are increasingly being used to provide taxi travel and have tax implications for those involved. If you are a driver providing this type of service and carry on an enterprise you must register for the goods and services tax (GST).
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 or partner in a partnership, you can usually claim a deduction for your own super contributions in your personal tax return.
The sharing economy and tax
The sharing economy is a way of connecting buyers and sellers. The same tax rules apply to the sharing economy as they apply to the rest of the economy.
What you can claim and when
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.