Keeping accurate and complete records

You need to keep all records relating to your business expenses as you will need these to support your deduction claims, if the ATO asks for them.

If your expenses relate to business use and personal use, make sure you have clear documents to show how you calculated the business portion of the expense.

You will need to keep different types of records depending on the expenses you are claiming. 

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 deduct immediately

6 mins

Expenses you can deduct over time

6 mins

Expenses you can never deduct

2 mins

Motor vehicle deductions

6 mins

Record keeping for small business deductions

3 mins

Related courses

1 mins

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