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Tax time toolkit 2023

The Australian Taxation Office (ATO) has launched a new Tax Time toolkit for 2023.

The toolkit, which is available for download on the ATO website, has been designed to support small businesses to meet their tax and super obligations. You can access useful information including tools, calculators, learning resources and other support services.

The ATO have also updated key fact sheets to help you navigate tax time

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.

ATO resources to support you at tax time

ATO support for small business

Small Business guides

Occupation-specific deductions

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