Deductions for prepaid expenses 2012-13

This guide explains how to work out deductions for expenses you incur in a later income year.

What prepaid expenses are and the prepayment rules.

What a tax shelter arrangement is, expenditure excluded from these rules and how to calculate a deduction.

What is non-business expenditure, summary of the rules including the 12-month rule and calculating a deduction.

What a small business entity is and how to calculate a deduction.

Information on taxpayers carrying on a business and incurring deductible business expenditure.

Information on carrying on a business incurring deductible non-business expenditure.

Where you can find more information and publications about Deductions for prepaid expenses.

Information on how self-assessment affects you.