Income and deductions for business

Income tax treatment of registered emissions units, and basic principles of how an REU is taxed.

An overview of your responsibilities to keep accurate records and pay the right amount of tax.

Understand which income from carrying on your business is assessable for income tax purposes.

Understand which business expenses can be claimed as tax deductions.

Includes concessions for small business CGT, primary producers, special professionals and loss carry back tax offsets.

Calculate your business's taxable income using a calculation of business profit or loss and applying adjustments.

Explains what trading stock is and that livestock is also trading stock.

Work out the tax treatment of crypto assets in business and how tax applies to crypto mining activities.

How to carry forward business losses or offset them against other income.

Detailed information about income and deductions for business.