3 main groups of expenses

Expenses can be divided into 3 main groups.

  1. Expenses you can never deduct.
  2. Expenses you can deduct over a number of years.
  3. Expenses you can deduct in the income year in which they are incurred. These expenses can be deducted immediately.

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

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