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Income and deductions for business

As a business owner, you can use this information to help work out your business income and deductions for tax purposes.

Income tax treatment of registered emissions units, and basic principles of how an REU is taxed.

An overview of your responsibilities to keep accurate records and pay the right amount of tax.

Most income from carrying on your business is assessable for income tax purposes with some exclusions.

You may be able to claim a tax deduction for expenses you incur in carrying on your business.

Eligible businesses can claim a range of tax concessions, offsets and rebates.

Calculate your business's taxable income using a calculation of business profit or loss and applying adjustments.

Explains what trading stock is and that livestock is also trading stock.

Work out the tax treatment of crypto assets in business and how tax applies to mining activities.

How to carry forward business losses or offset them against other income.

Detailed information about income and deductions for business.