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You can claim a tax deduction for expenses for motor vehicles – cars and certain other vehicles – used in running your business. A “car expense” is a loss or outgoing to do with a car, or with operating a car, including the decline in value of the car. A “car” is a motor vehicle … Read more

Home office expenses It is becoming increasingly popular to work from home either partly or wholly, as employers are becoming more flexible. If you work from home, you may be able to claim a deduction for expenses you incur relating to that work. What are home office expenses? Home office expenses are claimed when you … Read more

      How can you take money out of your company or use its assets? Shareholders of a small business can borrow money from the company or uses its assets for personal use. This happens often however few know how to deal with these transactions. We explain below how this works.      1. … Read more

  A few years ago, who would have thought that you could be travelling across the world and be able to login to your accounting software and see where your business stands at that precise moment in time? If you are a small business owner, here are five reasons why you should use Xero to … Read more