Don’t let these slip through the cracks

Don’t leave money on the table!

Maximise your small business tax deductions with these not to miss opportunities. Remember every business is unique, and tax deductions can vary.

I see alot of business owners often miss out on these deductions, mainly due to they aren’t aware of them.

Don’t miss out on these valuable deductions.

Software Subscriptions

Do you have recurring subscription fees?

Those fees add up over time, And guess what? They’re high on the list of forgotten expense claims. 

Lets take a moment review your subscriptions and make sure they aren’t left behind.

Website: Website hosting, Domain, shopify

Marketing: Canva, Hubspot, Settify, Aweber

Operations: Slack, Trello, Zoom, GMail, Drobox, Asana, Zapier, ClickUp

Financial: XERO, Quickbooks, MYOB, Hubdoc, Square, Strip, GoCardless, PayAdvantage

 

Did you miss any stray or unused tool you can add to your expenses or perhaps an unused subscription that you could cancel that will decrease your spending next financial year.

Payment Providers 

Did you know payment providers like PayPal, Stripe, Square and more, collect fees everytime you get paid?

Those fees are tax deductible!

Whilst they may not impact the bottom line, your sales figures and often your GST on your BAS will be incorrect.

It may seem like a counter-intuitive but those fees add up over time. Automate it where possible, this will save your time in the long run.

Insurance

As small business owners we have access to a variety of insurance options, including general liability insurance, property insurance, and workers compensation are some just to name. The cost of insurance premiums relating to your business is an expense you can claim.

BUT, if you are working from home, a portion of your home & contents insurance might also be tax deductible! It’s worth speaking with your accountant.