Claiming your eligible business expenses is one way to reduce your small business tax bill. We explain what costs you can claim as a business owner.
Many small business owners incur a wide range of operational costs throughout the year, and understanding which of these expenses are deductible helps you maximise your tax position.
Expenses that are wholly related to the day‑to‑day running of your business are generally claimable. When these costs are deducted, your taxable income is reduced — resulting in a lower overall tax bill at year‑end.
Common business expenses you can claim
As the owner of the business, you can claim for:
– Vehicle expenses, transport costs and travel for business purposes
– Rent paid on business premises
– Depreciation on items like computers and office furniture
– Interest on money borrowed for the business
– Some insurance premiums
– Work-related journals and magazines
– Membership of professional associations
– Home office expenses
– Work-related mobile phones and phone bills
– Stationery
– Work uniforms
– Tax agent’s fees
Making sure you claim everything you’re entitled to
There’s more detail on the business.govt.nz website if you’d like to explore specific rules around expenses.
If you’re unsure whether something is claimable, or want to make sure you’re maximising your deductions, our team is here to help. We can walk you through the rules, review your expenses, and ensure everything is correctly claimed at year-end.
About Pathfinder Solutions
Pathfinder Solutions advisory team members have either owned or managed businesses, or are investors themselves, so we know first-hand the challenges you face in your world.
Sure we’re Accountants, but the best solutions in business come from focusing on more than just the numbers. Our real-world business experience delivers just that.
