Your guide to tax time

The tax time toolkit for 2023 is now live, with updated links to 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 also find updated fact sheets on:

• claiming deductions for the costs of using your home as a place of business
• claiming deductions for motor vehicle expenses for your business
• claiming deductions for costs incurred during business travel
• claiming deductions for the cost of digital products used in running your business
• using a company’s money or assets – if you’re a director or shareholder of a company that operates a small business, and you take money out of the company or use its assets privately
• pausing or permanently closing your business

In addition, there is expense-related information for primary producers on:

• land care and riparian maintenance
• preventing and preparing for fire emergencies
• tree farming (forestry operations)

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

Remember, RA Advisory registered tax agent can help you with your tax.

Source: ATO