However, be mindful that all travel expenses you claim must relate to producing your business’ assessable income. If you’ve travelled to attend a business conference or taken an international business trip to meet with a manufacturer or customer the good news is that you can typically claim those travel expenses as a deduction on your tax return. From travel expenses to operating a small business from home, here’s an explanation of some things you can claim on your business tax return. Small business owners can claim a deduction for most costs incurred in running a business on their annual business tax return – as long as those expenses directly relate to how you earn assessable income. To help take the pressure off, the small business banking specialists at BOQ have shared this summary of some examples of expenses you can claim as tax deductions. As 60 per cent of our branches are owned and managed by small business owners, at BOQ we understand that every little bit helps when it comes to doing your business tax return. Struggling to know which business expenses you can claim as a tax deduction for your small business? When it comes to doing your business tax return, it can be tricky to know which deductions you can claim for.
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