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Tax – Business Deductions

Interest deductions during construction of a property

The Tax Office may accept that expenses incurred while a property is under construction are tax deductible if the taxpayer’s intention and purpose when building the property is to derive assessable income…

Work-related car expense deductions

The Tax Office has simplified the methods of claiming car expense deductions for the 2015-16 financial year…

Claiming home office expenses

From July 1, 2014 the fixed Tax Office rate for home office expenses increased to 45 cents per hour, up from 34 cents.

Deducting interest expenses and council rates for vacant land

Interest expenses and council rates incurred for holding vacant land may be tax deductible. Find out more

Depreciation on intangible assets

The government has announced changes that will apply to the depreciation of intangible assets from July 1, 2016. Find out more