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

Activity: business travel expenses

Claiming small business tax deductions

What are deductions and what can I claim?

5 mins

Business deductions and the 3 golden rules	0%
The 3 main groups of expenses	0%
Deductions if your business is not registered for GST	0%
Deductions if your business is registered for GST	0%
Activity: golden rules of tax deductions	0%
Activity: when to claim	0%
Activity: can I claim this?	0%
Activity: deduction limits	0%

Accounting for private use of assets

9 mins

Private use of business assets	0%
Using trading stock for private purposes	0%
Avoiding 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 deduct immediately

6 mins

Certain business start-up expenses	0%
Operating expenses	0%
Business travel expenses	0%
Activity: Greg’s travel deductions	0%
Workers’ salaries, wages and super contributions	0%
Repairs, maintenance and replacement expenses	0%
Activity: expenses you can deduct immediately	0%

Expenses you can deduct over time

6 mins

Expenses you can deduct over time	0%
Prepaid expenses	0%
12-month rule	0%
Prepayments excluded from the prepayment rule	0%
Deductions for depreciating assets	0%
Activity: prepaid expenses	0%
Activity: Jackson’s cleaning business	0%
Activity: depreciating assets	0%

Expenses you can never deduct

2 mins

Expenses you can’t deduct	0%
Activity: hobby expenses	0%
Activity: Thandi’s deductions	0%

Motor vehicle deductions

6 mins

Claiming motor vehicle expenses	0%
Calculating motor vehicle expenses	0%
Activity: motor vehicle deductions	0%
Activity: Alex's motor vehicle expenses	0%

Record keeping for small business deductions

3 mins

Keeping accurate and complete records	0%
Operating and other expenses records	0%
Business travel expenses records	0%
Motor vehicle deductions records	0%
Activity: business travel expenses	0%
Activity: motor vehicle deductions	0%

Related courses

1 mins

Related courses	0%

Course feedback

Course feedback	0%