Updated November 12th 2013

A business can claim a tax deduction for any expenses it has incurred and has a legal liability to pay, even if the actual payment has not yet been made. A common example is employee bonuses that have been communicated to staff, but not yet paid at 30 June 2010. You may also ensure supplier invoices are dated in June 2010, rather than being held for the next financial year.

There are some expenses, for which the bring forward of the deduction does not apply, these being:

  • Unpaid superannuation contributions at year end
  • Purchases of Trading Stock
  • Purchases of Depreciating Assets