Common tax claims that businesses may miss

Completion of the business tax return is a long and tedious task that can cause errors and compliance violations. Rands Tax Solutions Line (Registered Tax Agent of Rands Financial Services) could assist you here and also we could ensure our clients do not miss the basics and overlook the latest business deductions, while we make the full representation with the ATO. Based on our experience, we have pitched some of the most common tax claims that businesses forget every year.

Work-related car expenses 

Are you a business owner? Did you know you can claim your personal car for work-related travel? To be eligible, you must be the owner of the car and drive during work hours, for example, going to the post office, bank, or driving between offices.

Union and membership fees 

If you pay union or membership fees every year for your job, you are entitled to a tax deduction.

Working from home expenses

If you are working from a home office, there are a number of expenses that can be claimed, including the internet you use.

Phone expenses

It is always a good idea to keep a log of your business phone calls because when it comes to tax time, you can claim them on your tax. Rands Financial Services can help you organize and lodge your phone call registry, ensuring you are accurate and legitimately able to make this claim.

Tax agent fees 

If you use Rands Financial Services, an accountant or a bookkeeper to prepare and lodge your tax return, you can claim the amount you paid last year on your return this year. Need an affordable and reliable solution to manage all of your business tax? Want to ensure you don’t forget important tax claims and get full representation with the ATO? We can do it all for you, and yes, we’re available all year round! Contact us today by phone, email, or live chat. It’ll be the best business decision you’ll ever make!