Tax time toolkit 2023

Key fact sheet topics include;

• home-based business expenses – if you are claiming a deduction for the costs of using your home as a place of business.
• motor vehicle expenses – if you are claiming a deduction for motor vehicle expenses.
• Travel expenses – if you are claiming a deduction for expenses you incur when travelling for your business.
• digital product expenses – if you are claiming a deduction for the cost of digital products used in running your business.
• using a company’s money or assets – if you are 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 – if you have had to pause or permanently close your business.

In addition, there is information for primary producers on:

• landcare and riparian maintenance – expenses
• preventing and preparing for fire emergencies – expenses
• tree farming (forestry operations) – income and expenses.

If you have employees, encourage them to check out the ATO’s occupation-specific guides and common deduction fact sheets. These are useful resources that can assist your employees when they lodge their tax returns.