Stocktakes and assets
Business assets might include buildings, fixtures and fittings, plant and equipment, cars and trucks, office equipment, computers, the stock you sell and many other things.
You can claim a deduction for most expenses you incur on buying, maintaining, repairing and selling business assets or stock, either immediately or over time. You need to keep records of these expenses to claim the deductions.
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You need to keep records of stock and assets so you can claim for depreciation and protect your assets.