Small business owner tax deductions: what you can claim
What you can claim, what you cannot, and the records the ATO expects. Written in plain English and updated for the 2025–26 financial year.
Oscar says"Instant asset write-off $20K threshold to June 2026, vehicle logbook, super contributions, home office actual cost, depreciation. Scan the receipt the day you get it and June takes care of itself."
Records you need to keep
Accurate books, tax invoices, payroll records, BAS records. IMPORTANT: Separate business and personal bank accounts — essential for ATO compliance. A claim without a receipt or tax invoice behind it is a claim you may have to repay if the ATO asks.
Common questions
What records do I need to keep?
Accurate books, tax invoices, payroll records, BAS records. IMPORTANT: Separate business and personal bank accounts — essential for ATO compliance. Keep them for five years from when you lodge.
Oscar already knows these rules
Pick your occupation once, then scan, email, or forward receipts. Oscar classifies each one against these exact ATO rules and tells you what it is worth. Free to start.
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