Types of business expenses

Income tax Dates

NOV 4

Your provisional tax payment is due if you use the ratio method. (This is an extension of the usual 28 October due date.)

All Income tax dates

Businesses get taxed on their income minus any business expenses and other deductions. If you're in business, including self employed or working as a contractor, you need to keep records of your expenses and income and understand what types of costs count as business expenses.

You can claim some expenses related to rental income and property. In some cases you can claim expenses related to research and development.

Rental income expense deductions

Research and development

If you are not in business, there are some expenses you can claim against your income.

Types of individual expenses

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Claiming vehicle expenses You can claim running costs if you use a vehicle for business.
Using your home for your business If you’re a business owner and use part of your family home for work, you can claim this as a business expense.
Mixed-use assets Work out how much you can claim on mixed-use assets like holiday homes, boats and aircraft that you use both privately and for your business.
Depreciation You use depreciation to claim for the value your assets lose as they get older.
Entertainment expenses You can fully or partly claim entertainment costs as an expense, but in some cases you'll need to pay fringe benefit tax on them too.
Deductions for environmental expenditure You can claim environmental expenditure as an expense in certain situations.

Ngā momo utu pakihi Types of business expenses

Income tax Dates

Roles

Types of business expenses