In detail

Work out how your business should correctly account for private use of assets, such as horses and racing cars.

For 2014–15 and earlier income years, there are four different methods for claiming work-related car expenses.

Claiming a deduction for the expenses of establishing a carbon sink forest.

Crowdfunding to raise funds for a project or venture can have tax implications.

You can't claim income tax deductions for income earned through illegal activity.

Business tax deductions available for device and internet expenses related to using myGovID.

Detailed information about income and deductions for professional firms.

Detailed information about income and deductions for service entities.

Businesses may be able to use the simplified trading stock rules.

The small business income tax offset can reduce the tax on your small business income by up to $1,000 each year.

Tax obligations for taxi, hire car and limousine licence for industry assistance payments and passenger movement levies.