Knowing whether your business can claim a particular deduction is important because you can only claim what you’re entitled to.
You can claim a tax deduction for most expenses from carrying on your business, as long as they are directly related to earning your assessable income.
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Common business tax deductions
Andrew Watson is an Assistant Commissioner for the Australian Taxation Office in the Small Business line. He collaborates with small businesses, industry groups and government agencies to shape the client experience and drive improved digital services. His area also helps small businesses manage cash-flow and digital readiness.