What expenses are tax deductible?

To help reduce your tax bill, you can offset many of your business expenses against your business income. You'll need to keep good records and hold on to your receipts. 

Business expenses can include

• vehicle expenses, transport costs and travel for business purposes

• rent paid on business premises

• depreciation on items like computers and office furniture

• interest on borrowing money for the business

• some insurance premiums

• work-related journals and magazines

• membership of professional associations

• home office expenses

• work-related mobile phones and phone bills

• stationery

• work uniforms

• tax agent’s fees.