Deductions for prepaid expenses 2021

A guide to help you work out deductions you can claim for expenses you incur for things done in a later income year.

Last updated 26 May 2021

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.

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