Premium deductions

Are you leaving money on the table by not claiming all your tax deductions?

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“According to the ATO, small businesses, including landscapers, often miss out on claiming thousands of dollars in deductions each year” If you’re a landscaper in Australia, you’re no stranger to the costs of running your business, especially when it comes to tools, vehicle maintenance and insurance.

All of those things can – and do – add up quickly.

That being said, did you know your public liability insurance premiums might qualify as a tax deduction?

Yep, that’s right. Let’s break down what you need to know to maximise your tax savings and avoid missing out.

Can public liability Insurance be claimed on tax?

Yes, it can.

According to the Australian Tax Office (ATO), any sort of expense directly related to generating your income can be deducted from your taxable income. Public liability insurance is technically considered a business expense because it protects you financially if a claim is made against your work.

The premium you pay for public liability insurance isn’t just protection for your business, but an opportunity to also reduce your taxable income.

How do you claim public liability insurance as a deduction?