Tax Write-Off

A tax write-off, also known as a tax deduction, is a legitimate business expense that you can subtract from your company’s gross income. By lowering your taxable income, write-offs directly reduce the amount of corporate tax your business owes to the government.

Common tax write-offs for startups and SMEs include:

• Office rent and utility expenses
• Software subscriptions and SaaS tools
• Employee salaries and benefits
• Marketing and advertising costs

It is critical to maintain proper documentation, such as GST invoices and receipts, to substantiate these expenses during an audit.