Stop Leaving Money on the Table – Claim What’s Rightfully Yours

Running a business is challenging enough without accidentally giving the tax office more than necessary.
Yet, every single year, thousands of Australian small business owners miss out on perfectly legitimate tax deductions simply because they don’t know they exist – or they’re unsure about how to claim them.

The Australian Taxation Office (ATO) offers a wide range of deductible expenses, but not all of them are obvious. Some are tucked away in the finer details of the tax rules, while others require specific recordkeeping to be claimed correctly. If you’re not on top of the requirements — or if your receipts and logs aren’t up to scratch — you could be missing out on valuable claims that could reduce your tax bill and improve your cash flow.

The good news? With the right advice, you can make sure you’re claiming everything you’re entitled to.
Here are five commonly overlooked deductions that can make a real difference to your bottom line.

1. Prepaid Expenses

Have you paid upfront for next year’s costs? This could include insurance premiums, rent, or service contracts. In many cases, prepaying certain expenses before 30 June allows you to bring forward your deduction into the current financial year. This can be a smart move for managing cash flow and reducing taxable income – but the rules vary depending on the size of your business and the nature of the expense. Always get tailored advice before prepaying large amounts.

2. Tools and Software

From laptops and tablets to specialist business apps, design software, and accounting platforms, if it helps you run your business, there’s a good chance it’s deductible. Even small, regular costs like cloud storage, email hosting, or subscription-based tools can add up over the year. The key is to keep track of them from day one so you don’t miss out when it’s time to do your return.

3. Vehicle Use for Business

If you’re visiting clients, delivering products, attending offsite meetings, or travelling for other work-related purposes, you might be eligible to claim a portion of your vehicle’s running costs. Depending on your circumstances, this could include fuel, servicing, registration, and even depreciation. The ATO requires accurate records — such as a logbook or clear mileage records — so make sure your documentation is solid before making a claim.

4. Home Office Costs

Many business owners operate from home at least part of the time, which opens the door to additional deductions. You may be able to claim a percentage of your electricity, internet, phone, rent, and office equipment based on your business use. The calculation method you choose can significantly affect the size of your claim, so it’s worth getting professional guidance to ensure accuracy and compliance.

5. Business Subscriptions and Memberships

Professional memberships, industry association fees, and trade publications often fly under the radar when tax time comes around. Likewise, digital platforms like Canva, Xero, Adobe, or project management tools may be deductible if they directly relate to your business. Many small businesses forget these because they’re automatically debited from an account and not tracked as a business expense — a quick review of your statements can uncover these hidden deductions.

Don’t Leave It to Guesswork
Understanding what you can claim — and making sure you claim it correctly — can turn tax season from a stressful scramble into a smooth, well-prepared process.

At BJT Business Advisors, we specialise in helping small business owners claim smarter, stay compliant, and keep more of what they earn. Our team knows exactly where to look for hidden deductions, how to navigate ATO rules, and how to set up systems so you’re always ready when tax time rolls around.

If you’re unsure whether you’re maximising your deductions, now is the time to act.
Book a free assessment or contact our friendly team today to strengthen your tax position and take control of your business finances.