Deductions for prepaid expenses 2020

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

Find out what prepaid expenses are and the prepayment rules.

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

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

Find out 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 taxpayers carrying on a business and incurring deductible business expenditure.