Business deductions depend on what an expense is, why it was incurred and how it is documented. These guides explain common expense questions, year-end preparation, tax losses, depreciation, vehicles and other issues that often need careful distinction.
How to Use These Guides
Start with the question closest to the decision or problem you are dealing with. Read the qualifications and examples as carefully as the headline answer, then confirm current rules with the relevant official source or a professional who can consider your full circumstances.
Tax & Deductions Guides
What Business Expenses Can I Claim as a Tax Deduction?
A genuine business expense may be deductible when it is not private or domestic.
Business Expense or Personal Expense — Where Is the Line?
The core test is purpose: was this expense genuinely incurred to earn business income.
I Paid a Business Expense Personally — How Should It Be Recorded?
Record the expense and the amount the business owes you.
Can I Claim My Car or Ute Expenses Through My Business?
Business-use costs may qualify, but the method and evidence depend on circumstances.
Should I Buy a Vehicle Through My Business or Personally?
There's no universal answer — it depends on your business structure.
Running a Business From Home — What Expenses Can I Claim?
Claims depend on the cost, business use and records available.
Meals, Coffee, Entertainment and Client Functions — What Can My Business Actually Claim?
Entertainment is generally not tax-deductible.
Travel Expenses — When Is Business Travel Tax-Deductible?
Flights, accommodation and reasonable meals may qualify when travel is for business.
Clothing, Uniforms and Protective Gear — What Can a Business Owner Claim?
Occupation-specific clothing, protective items and uniforms may qualify.
What Is Depreciation — and Why Can't I Always Claim an Asset Immediately?
Because the equipment isn't used up in one year.
Instant Asset Write-Off — What Is It and When Can My Business Use It?
Eligible small businesses can immediately deduct qualifying assets under $20,000.
Repairs vs Improvements — Why Does the Difference Matter for Tax?
Repairs restore function; improvements generally create or enhance an asset.
What Is Fringe Benefits Tax — and When Does a Small Business Need to Think About It?
FBT is employer-paid tax on certain non-cash employee benefits.
Bad Debts — When Can an Unpaid Customer Invoice Become a Tax Deduction?
An unpaid invoice can become a deductible bad debt.
Why Is My Taxable Profit Different From the Profit in My Accounts?
Accounting profit measures how your business performed.
What Is a Tax Loss — and Can I Use a Business Loss in a Future Year?
It arises when deductions exceed assessable income for the year.
What Should I Give My Accountant at the End of the Financial Year?
Provide reconciled records, statements and supporting documents.
How Can I Make Year-End Tax and Financial Statement Preparation Less Painful?
Keep the books reviewed and reconciled throughout the year.
General Information
These guides provide general information only. They do not take into account your individual circumstances and are not a substitute for professional accounting, taxation, legal or financial advice.
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