To use this feature, you will need to login or create an account.
Don't have an account yet?
Create an account.
Small businesses can immediately deduct certain capital expenses associated with starting up a business.
Expenses relating to setting up a business are fully deductible in the year they are incurred if they were incurred:
- in obtaining advice or services relating to the proposed structure or operation of the business (for example, advice from a lawyer or accountant)
- for payment to an Australian government agency of a fee, tax or charge relating to setting up the business.
Last modified: 14 Nov 2023
Claiming small business tax deductions
Steps | Progress | ||||
---|---|---|---|---|---|
What are deductions and what can I claim? |
5 mins | ||||
Accounting for private use of assets |
9 mins | ||||
Expenses you can never deduct |
1 mins | ||||
Expenses you can deduct over time |
10 mins | ||||
Stock and asset records |
5 mins | ||||
Expenses you can deduct immediately |
5 mins | ||||
Other deductions records |
1 mins | ||||
Motor vehicle deductions |
4 mins | ||||
Motor vehicle deductions records |
2 mins | ||||
Related courses |
1 mins | ||||
Course Feedback |
|||||