The Australian Tax Office (ATO) website has some great information and tools for working out what expenses you can claim as business deductions. Here is a list of some expenses that are applicable to many small business:
- Motor vehicle expenses
- Business travel expenses
- Capital allowances – plant and equipment depreciation
- Salaries, wages and super
- Losses
- Expenses related to your home work area
- Keeping good records
Your bookkeeper can help you work out which ones apply to your business.
If you would like more information visit the ATO website.