Small business can claim tax deductions for most business expenses. This course covers expenses you can deduct immediately, expenses you can deduct over time and expenses you can never deduct. Motor vehicle deductions are also covered in this course.

Running your small business from your home may cost you more in expenses such as electricity, gas, phone, furniture, and cars. Find out what expenses you can claim for tax deductions and how to calculate the amounts you can claim.

Personal services income (PSI) is income produced mainly from your skills or efforts as an individual. When the PSI rules apply to your income, they affect how you report that PSI and the deductions you can claim. Find out if you are receiving PSI and if the PSI rules apply to you.

Cash flow management is critical to the success of any business, but it’s not always easy to find ways to improve your cash flow. Examine your business for potential improvements using your financial records and the digital business performance check tool. Explore seven key strategies that may improve the cash flow of your business.

This course will help you understand small business tax debt and its impact. It contains information and tips to help prevent and manage tax debt including options for support and help. 

Course time: 23 mins

If you have a tax loss, you need to understand how you may be able to claim it and the rules surrounding this. This course discusses the non-commercial loss rules that may apply to individuals or partners in a partnership, as well as tax loss rules for trusts and companies.

Keeping accurate business income and expense records and recording these correctly in your tax return saves you time and money. Learn how to set up a system that accurately records income and expenses and allows you to easily transfer these to your tax return at tax time.

You may be able to claim depreciation for the decline in value of assets you own over time. This course covers what assets you can claim depreciation for and outlines the rules you may be able to use when claiming depreciation. It also looks at tools that help to calculate depreciation.

This course outlines when payments you make to contractors need to be reported to the ATO on a Taxable payments annual report (TPAR). You will learn how the taxable payment reporting system works, when you are required to report, methods of lodging, and record keeping requirements.

If you sell or dispose of assets, you may have to pay capital gains tax (CGT). This course will explain how to work out CGT. It outlines the different exemptions, concessions and rollovers you may be able to use to disregard, defer or reduce your capital gains.