Tax Time toolkit for small business

TaxGuides
Written By Paul Dillon

Information to help small businesses at tax time and all year round

 
 

The Australian Tax Office’s (ATO) 2024 Tax Time toolkit is now available and includes useful information, tools, calculators, learning resources, and other support and services.

You'll find updated fact sheets to help you if you're claiming a deduction for:

  • home-based business expenses

  • motor vehicle expenses for your business

  • business travel expenses

  • digital product expenses for digital products you use to run your business.

Fact sheets are also available to guide you through:

  • using business money or assets – if you’re a director or shareholder of a company that operates a small business, and you take money out of your company or use its assets

  • pausing or permanently closing your business.

There’s also information for primary producers about:

  • landcare and riparian maintenance expenses

  • expenses relating to preventing and preparing for fire emergencies

  • tree farming (forestry operations) income and expenses.

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Paul Dillon https://www.regionalrising.com.au
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