17/06/2008
Tax Time for Small Business
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:
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rent or lease of business premises, plant and equipment
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employee wages
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business travel
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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.
