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Deductions for prepaid expenses 2024

A guide to help you work out deductions you can claim for expenses you incur for things done in a later income year.

Published 30 May 2024

General information about prepaid expenses

What prepaid expenses are and the prepayment rules.

General deductions and research and development

What are the general deduction and R&D provisions.

Investments in tax shelter arrangements

What a tax shelter arrangement is, expenditure excluded from these rules and how to calculate a deduction.

Deductible non-business expenditure

What is non-business expenditure, summary of the rules including the 12-month rule and calculating a deduction.

Small business entities

What is a small business entity, a summary of the rules including the 12–month rule and calculating a deduction.

QC101522