Get ready for tax time with ATO small business Tax Time toolkit.

The 2024 Tax Time toolkit includes useful information, tools, calculators, learning resources, and other support and services. This toolkit is your one-stop-shop for help during tax time and throughout the year.

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.

If you have employees, encourage them to check out our occupation-specific guides and common deduction fact sheets. These resources can help them work out their work-related expenses when competing their tax returns.

If you still have questions on how to get ready for tax time, you can speak with a registered tax professional.

 

Last updated 17 July 2024

QC102710 The Tax Time toolkit for small business is now available | Australian Taxation Office (ato.gov.au)