Claiming small business tax deductions | Essentials to strengthen your small business

Sole trader or partnership

Claiming small business tax deductions

What are deductions and what can I claim?

5 mins

The 3 golden rules for business tax deductions	0%
Deductions if your business is not registered for the goods and services tax (GST)	0%
Deductions if your business is registered for GST	0%
3 main groups of expenses	0%
Types of deductions	0%
Activity	0%

Accounting for private use of assets

9 mins

Private use of business assets	0%
Using trading stock for private purposes	0%
Avoid mistakes	0%
Common mistakes	0%
Claiming deductions for private assets	0%
Incorrectly apportioning deductions	0%
Private company benefits giving rise to a deemed dividend	0%
Creating an FBT liability	0%

Expenses you can never deduct

1 mins

Expenditure you can’t deduct	0%
Activity	0%

Expenses you can deduct over time

10 mins

Types of deductions	0%
Prepayments	0%
Prepayment example	0%
Prepayments excluded from the prepayment rule	0%
Prepayments excluded from the prepayment rule – example	0%
Other prepaid expenses that are excluded from the prepayment rules	0%
Deductions for depreciating assets	0%
Activity	0%

Stock and asset records

5 mins

Records from stocktakes	0%
Records of depreciating assets	0%
Capital gains tax assets	0%

Expenses you can deduct immediately

5 mins

Certain business start-up expenses	0%
Operating expenses	0%
Business travel expenses	0%
Workers’ salaries, wages and super contributions	0%
Repairs, maintenance and replacement expenses	0%
Activity	0%

Other deductions records

1 mins

Other deductions records	0%
Business travel expenses	0%

Motor vehicle deductions

4 mins

What deductions can be claimed?	0%
Company or trust	0%
Sole trader or partnership	0%
Activity	0%

Motor vehicle deductions records

2 mins

Motor vehicle deductions records	0%

Related courses

1 mins

Related courses	0%

Course Feedback

Course Feedback	0%