2019 Small Business Tax Tips

1. Business Travel

  • You can claim airfares, train or taxi fares.
  • Accommodation costs and meal expenses for overnight business travel.

2. Business assets

  • Business assets costing less than $20,000.00 net of GST is immediately deducted before 2 April 2019 and $30,000.00 on or after 2 April 2019.

3. Entertainment expenses and traffic fines

  • Even though your business incurs entertainment expenses and traffic fines, they are not deductible. It can still be paid by your business.

4. Motor Vehicle Expenses

  • If you travelled less than 5000 kilometres in a year, the easiest option to claim is the cents per kilometre method. The rate is 66c per business kilometre.
  • Actual expenses your business can claim the running costs of the car. It is important to maintain a logbook for a continuous 12-week period every 5 years.

5. Superannuation

  • To ensure super is claimed within the financial year, it must be paid before 30 June 2019.
  • Please note to pay your superannuation for all employees by the 28th July, October, January and March.

6. Small Business tax concessions

If your annual turnover is less than $10,000,000.00 net of GST, you are eligible for the following concessions;

  • Instant asset write-off < $30,000.00 from 2 April 2019.
  • Small Business income tax offset.
  • You can choose not to conduct a stocktake if there is a difference of $5,000.00 or less between the value of stock at the start of the income year.
  • You can claim an immediate deduction for prepaid expenses where the payment covers a period of 12 months.


If you have any tax questions please contact me on 07 3357 5553 or email john@sciaccagroup.com.au


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