Maximising your tax deductions
Type of claimable business expenses:
- Operational Expenses
- Employee Expenses
- Vehicle and travel Expenses
- Marketing and Advertising Expenses
- Consulting and Professional Fees
- Home Office Expenses
- Entertainment Expenses
- Specific Claimable Expenses
Vehicle Expenses
- Fuel
- Maintenance and repairs
- Depreciation
- Insurance
- Lease Payments
Operational Expenses
- Rent
- Utilities
- Office supplies
- Internet and phone
Entertainment Expense
- Client meals
- Business events
- Networking functions
Employee Expenses
- Salaries and wages
- Employer contributions to Kiwisaver
- Training and professional development
- Recruitment costs
Marketing and Advertising
- Website costs (design, hosting, maintenance)
- Advertising
- Promotional materials
- Social media management
- Networking costs and memberships
Consulting and Professional Fees
- Accounting and bookkeeping
- Legal services
- Business advisory
- IT support
Home Office Deductions
- Portion of rent/mortgage interest
- Portion rates and insurance and any water charges
- Utilities
- Internet
- Office furniture and equipment
Specific Claimable Expenses
- Home office expenses
- A portion of household expenses if you work from home (electricity, rent/mortgage interest, internet)
- calculated based on the percentage of the home used for business
- Telephone and Internet