Can I claim this as a tax deduction? It’s one of the most common things we get asked, so let’s simplify this area that can feel overwhelming.
Firstly – let’s be clear – this is not a tax REFUND, this is about a tax DEDUCTION. This means that you won’t pay tax on the claimed expense.
The below are common deductions – but every business is different – if you’re unsure, just give us a call for clarification – we great at making your Accounts simple and clear to understand.
Common Business Deductions You Might Be Missing
Marketing and Advertising Costs:
Promoting your business is an essential part of growth, and many advertising and marketing expenses are deductible. This includes things like website development, online ads, printed flyers, and even branded merchandise.
Professional Services:
If you’ve engaged accountants (like us!), legal advisors, consultants, or bookkeepers to support your business, those fees are often deductible too. Professional advice that helps you manage or grow your business can lighten your tax load.
Business Travel Expenses:
If you travel for work — whether for conferences, client meetings, or supplier visits — many associated costs like flights, accommodation, and meals while away may be deductible. (Just make sure they’re genuinely business-related.)
Office Supplies and Equipment:
Everyday tools that help you run your business — computers, printers, stationery, furniture — can often be claimed. For larger purchases, you might even be eligible for instant asset write-offs, depending on the current tax rules.
Home Office Costs:
If you run your business from home, you may be able to claim a portion of your rent, mortgage interest, utilities, and internet. The method you use (actual cost, fixed rate, or shortcut) can make a big difference, so it’s important to get the right advice.
And always remember the ATO’s golden rules –
- The expense must have been for your business
- You can only claim the portion used for your business
- You must have records to prove it.
Let’s take the guesswork out of it.
At Kaleidoscope Accounting, we work alongside small and medium businesses every day — helping you simplify the complex, stay compliant, and keep more of what you’ve worked so hard for.
If you want tailored advice that fits your business (not just a cookie-cutter checklist), we’re here to help.
Contact us on 0417 859 700 or email rebecca@kaleidoscopeaccounting.com.au to book your pre-June 30 planning session.
