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  • Know what you can claim

    5 August 2019

    When claiming deductions for your small business this tax time, make sure you follow these three golden rules:

    1. The expense must have been for your business – not for private use.
    2. If the expense is for a mix of business and private use, you can only claim the portion that is used for your business.
    3. You must have records to prove the expense and show how you worked out the business portion of an expense.

    You can claim a deduction for most of your business expenses, including:

    • staff wages and super
    • operating expenses
    • home-based business expenses
    • business travel expenses
    • motor vehicle expenses associated with running and maintaining a vehicle for your business
    • donations made to organisations that are deductible gift recipients.

    You can’t claim expenses that are non-deductible, such as penalties, fines, or private expenses.

    Remember, registered tax agents can help you with your tax.

    Find out about:


    • Small business: Know what you can claim this tax time

    Media:[Small business: Know what you can claim this tax time]
    http://tv.ato.gov.au/ato-tv/media?v=bd1bdiunt8d1c9External Link (Duration: 00:53)

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