In business but not sure just what is allowable between your business and personal tax returns?
Let's clear one thing up front. The rules of tax don't change between being a business owner and being a salary earner.
There does appear to be, however, a little more scope when it comes to claiming business related expenses.
And just like a salary earner, business owners can get an advantage salary sacrifice, regardless of age.
And in all cases keeping good records for deductions (particularly motor vehicles) is a basic.
Plus EVERYONE can benefit from a review of investments and super. Have a look at our financial life management arm Clifton Wealth to see how we can help here.
Our professional team are here to guide and advise you on tax matters, business and personal, including effective strategies for property, superannuation and tax on capital gains.
Make the best of what you've built and earned. Contact Clifton's and talk to our team.