Prepayments - workers compensation policy

Question

CaroATO · Accepted Answer

You're on the right track! You'll be able to claim the 11 instalments under the 12-month rule. You can claim the twelfth instalment in the following year once you meet the required conditions. Check out the information on our web site that talks about deduction for prepaid expenses (https://www.ato.gov.au/Forms/Deductions-for-prepaid-expenses-2021/).

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