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Deductions you can claim

Claiming deductions when receiving PSI
If you received personal services income (PSI) and the PSI rules apply, the rules limit the deductions you can claim against this income.
Deductions
You can claim a tax deduction for most expenses you incur in carrying on your business as long as they directly relate to earning your assessable income.
Deductions for home-based business expenses
If you operate some or all of your business from home, you may be able to claim tax deductions for home-based business expenses.
Deductions for motor vehicle expenses
As a business owner, you can claim a tax deduction for expenses for motor vehicles – cars and certain other vehicles – used in running your business.
Deductions for repairs, maintenance and replacement expenses
Businesses may be able to claim for non-capital repairs, maintenance or replacement of machinery, tools or premises used to produce business income.
Deductions for salaries, wages and super
Business owners can generally claim a tax deduction for salaries and wages paid to employees and for superannuation contributions made for them and certain contractors.
Deductions you can claim
When completing your tax return, you're entitled to claim deductions for some expenses, most of which are directly related to earning your income.
Income and deductions for business
This information has been refreshed. Most income received from carrying on a business is assessable for tax purposes. You can claim deductions for expenses and may be eligible for concessions, offsets and rebates.
Losses
If your business makes a loss, you may be able to carry it forward, or offset it against other income, depending on your business structure.