Taxation for small business

Wednesday 11 June 2008



It is important that you understand what you can and can't claim as a work related expense to prevent you from incurring penalties at tax time. The Tax Office has published a guide to claiming, to help you avoid common mistakes.

Under income tax law, you are able to claim deductions for expenses incurred in carrying on your business. These can include:

  • rent or lease of business premises, plant and equipment
  • employee wages
  • business travel
  • motor vehicle expenses.

For further information on making work related tax claims, see the Overview of business expenses and deductions page on the Tax Office website.

business.gov.au This content is supplied to Flying Solo via business.gov.au,
the Australian Government's principal website for business information and resources.

 

 

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