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Business / Tax tips for business owners in 2025

3 things to consider doing before 30 June

  1. Review your assets - small businesses may be able to claim a deduction for new eligible assets under $20,000 that are first used or installed by 30 June 2025.
  2. Prepay business costs - some expenses can bring forward your allowable deductions - but keep in mind that bringing them forward to this year means you can’t claim them next year.
  3. Write off bad debts - you may be entitled to a deduction if you're unable to recover money your customers owe you.

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Good to know

Interest charged by the ATO on business tax debts up to 30 June 2025 may be tax deductible. However, interest charged from 1 July 2025, will no longer be tax deductible, increasing the cost of tax debt. You can consider refinancing this with a BetterBusiness Loan.

How to use NetBank for your business tax return

Easily download the documents you need.

Using NetBank for tax returns

Interest & tax summary

This provides a summary of interest earned and charged, and any withheld tax on your accounts for current or previous financial years. 

View interest & tax summary in NetBank

Bank statement

This is your official bank record of credits and debits for your business accounts, loans, merchant products and other facilities. 

View bank statements in NetBank

Transaction summary

This is an official letter available immediately, confirming your transactions and account details for a period you choose (includes up to 100 transactions).

View transaction summary in NetBank

Need a statement for tax time?

Message us in the CommBank app to request your statements.

Message us

Spot a tax scam

Scam activity ramps up around tax time, so learn what to look out for.

Learn about tax scams

Things you should know

This page is intended to provide general information only and does not take into account your individual objectives, financial situation or needs. The above information is not tax advice.

Taxation laws are complex and subject to change. Commonwealth Bank does not provide tax (financial) advice under the Tax Agent Services Act 2009 (Cth). You should consider seeking independent tax advice from a registered tax agent, accountant or adviser before you make any decisions based on this information.