First Class Accounts - Wanneroo

EOFY Tip: Don’t Be Afraid to Claim Legitimate Business Expenses 💡

One thing we see all the time at tax time?
Small business owners under-claiming out of fear.

They worry about “doing the wrong thing,” so they avoid claiming expenses they’re actually entitled to.

Here’s the simple rule:
If it’s genuinely used for your business, there’s a good chance it may be claimable.

That can include things like:
✔️ Tools & equipment
✔️ Software subscriptions
✔️ Work-related travel
✔️ Phones & internet
✔️ Vehicle expenses
✔️ Home office costs
✔️ Training & education related to your business

The problem is, too many business owners either:
👉 Forget to track these expenses properly
👉 Lose receipts and records
👉 Or avoid claiming altogether because they’re unsure

And over time, that can mean paying more tax than necessary.

That doesn’t mean “claim everything.”
It means understanding what’s legitimately connected to running your business and keeping proper records to support it.

EOFY is the perfect time to review your expenses properly and make sure you’re not leaving money on the table.

Because smart tax planning isn’t about being aggressive.
It’s about being organised, accurate, and informed.

📩 If you’re unsure what you can and can’t claim, we can help you get clarity before EOFY.

🚨 BAS Reminder: Due 26th May

This is one of those deadlines that’s easy to push back…
until it turns into penalties, stress, and a last-minute scramble.

If your BAS is already sorted then perfect 👌
You’re ahead of the game.

If it’s sitting in the “I’ll get to it” pile…
now’s the time to deal with it before it becomes a bigger problem.

Because rushing it last minute usually means:
👉 Mistakes
👉 Missed claims
👉 Or not really knowing what you’re submitting

And that’s where things can get expensive.

Getting your BAS done properly isn’t just about ticking a box, it’s about making sure your numbers are accurate and your business stays on track.