None of us want to pay tax on something we don’t have to, right?
It helps to know what you can and can’t claim for your business.
And of course, it all depends on what you do, as to what you can claim.
For instance, if you run a hairdressing salon, and you decide to take a course in driving an excavator, then you won’t be able to claim those education expenses.
However, if you take a course in learning the latest hair styles, then that would be claimable.
Knowing what does attract GST and doesn’t is also worth knowing.
Remember to keep all your receipts if you want to claim the expense.
Receipt Bank is a great way to capture all your receipts on the go without losing them having to worry about them fading.
There are also some great cheap scanning apps for your phone which allow you to do a similar thing and link them directly to your Xero account.
Using the Rules function is Xero means that you can code all your regular expenses just once, and let the system do the rest from now on.
If you don't know what I am talking about, I can help you with some one to one training to get you up to speed on your online bookkeeping system.
Contact me, I'm here to help.
Bookkeeper, BAS Agent, Diploma Accounting, I love helping small businesses get their books back in order and create calm out of chaos.