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Deductions for prepaid expenses 2021

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

Last updated 26 May 2021

General information about prepaid expenses

Find out what prepaid expenses are and the prepayment rules.

General deduction provisions and certain research and development provisions

Information on general deduction provisions.

Investments in tax shelter arrangements

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

Individual taxpayers incurring deductible non-business expenditure

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

Small business entities

Find out what a small business entity is and how to calculate a deduction.

Carrying on a business incurring deductible non-business expenditure

Information on taxpayers carrying on a business and incurring deductible business expenditure.

QC64888