Real Plus Accounting Pty Ltd

Tax, Accounting, SMSF & Audit in Mawson Lakes

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Mawson Lakes CPA Accounting Practice

Business accounting quotes   SMSF quotes
 

tick  CPA Accountant and auditor in Mawson Lakes.
tick  Taxation & accounting advice for startup and established businesses.
tick  We provide specialised services for small businesses, individuals and SMSF.
tick  Tax returns for companies, trusts, partnerships, sole traders and SMSF.

Tel 08 8359 0888  | Mob 0403314498 |  Email Us

- Call us now for your 2017 Tax Return appointment
- Free SMSF and small business quotes
- We do online tax and accounting

Checklist of Business Deductions

time-for-taxesEnd of financial year is here.

Here is the list of the most common business expenses which you can use as a simple checklist of business deductions:

- Accounting

- Amortisation

- Business insurance

- Motor vehicle insurance

- Income Protection Insurance

- Indemnity Insurance

- Advertising & Promotions

- Commissions paid

- Audit Fees

- Bank Charges

- Bad Debts write off

- Borrowing expenses (Amortised 5 yrs deduction)

- Business name registration

- Capital Items (items up to 20k deducted in the first year befre 30 June 2017)

- Car expenses (Business % only)

- Car Parking (only if car expenses are deductible)

- Cleaning

- Conferences and Workshops

- Depreciation

- Devices and Gadgets (e.g. iPad, smartphone, NAS drive...)

- Directors' Fees (Same as wages)

- Discharge of mortgage expenses

- Donations to registered Deductible Gift Recipients (e.g. Red Cross)

- Education expenses (Only if related tothe current job)

- Electricity

- Entertainment is not tax deductible expense (Fringe Bbenefits Tax only)

- Equipment services

- Film investment (only for certain Australian films)

- Filing fees (e.g. ASIC fees)

- Freight

- Fuel and oil

- Fringe Benefits Tax payments

- Gifts to clients (Small business gifts are ok. Bribes to Australian and foreign public officials are not tax deductible)

- Hire expenses 

- Home office expenses (running costs e.g. heating, cooling, cleaning based on the % of the floor space ofthe office)

- Interest expenses

- Internet

- Land Tax

- Lease payments

- Legal fees

- Licenses & Registrations

- Losses from previous years

- Loss through misappropriation (e.g. theft)

- Maintenance & Repairs

- Management expenses

- Managing tax affairs (e.g. Tax Agent fees and ATO interest charges)

- Mortgage protection insurance

- Newspapers and Magazines (professional)

- Payroll tax

- PayPal fees

- Petrol and oil

- Postage

- Power, heating & lighting

- Printing & stationery

- Professional memberships

- Professional fees

- Protective clothing

- Rates and taxes

- Rebates and discounts given

- Rent & overheads

- Research & development expenses

- Royalties

- Salaries & Wages

- Self-education expenses

- Seminars

- Software

- Storage costs

- Structural improvements (capital exp.)

- Subcontractors

- Superannuation

- Telephone/Mobile

- Tool replacement

- Trade journals

- Trading stock purchases and movements

- Travel expenses

- Uniforms

- Workcover

- Website costs

- Webinars

Office Location

XERO & MYOB Partner

Real Plus Accounting Pty is Certified XERO Adviser and MYOB Professional Partner.

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Xero Online Accounting Software