In the complex and competitive business landscape, financial goal setting is your compass, guiding your business through challenges and towards success. With the right approach, discipline, and support from professional advisors, your financial goals can drive significant improvements in your business’s performance and resilience.

This article, written from an accountant’s perspective, provides a comprehensive guide to common business deductions in Australia. It covers a range of deductible expenses including operating costs, employee expenses, vehicle and travel costs, depreciation, professional fees, marketing, insurance, bad debts, and education costs, as well as home office expenses for businesses operated from home. Understanding these deductions is key for business owners to manage their tax liabilities effectively.