We believe that selecting the right financial services firm is paramount to your financial success.
Arthur McElroy Accountants is recognised as one of the leading accountancy firms in the Diamond Valley, trusted by a diverse range of clients including local retailers, manufacturers, tradespeople, family groups, individuals, and large commercial enterprises.
We proudly support clients throughout the Diamond Valley, including Greensborough, Eltham, Doreen, Macleod, Lower Plenty, Watsonia, Rosanna, and Diamond Creek. We also service clients further abroad by offering online or telephone appointments.
your local
trusted
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your local
trusted
accountants
We’re here to make tax time less stressful and more manageable.
From startups to established companies, we help businesses stay compliant and confident. Our services include business tax returns, GST activity statements, payroll support and more. We work closely with you year-round—not just at tax time—to ensure your business stays on track.
We believe good accounting is about more than just numbers. It’s about trust, relationships, and giving you peace of mind.
our services
Individual/Personal Tax
Business Accounting & Compliance
Business Advisory
Self-Managed Super Fund
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What expenses can I legally claim as tax deductions?
The expenses you can claim as tax deductions depend on whether you’re an employee, a sole trader, or running a business. Here’s a breakdown of what’s generally claimable:
For Employees:
If you’re employed, you may be able to claim deductions for expenses you incur as part of your job. These include:
- Work-related travel (e.g., car expenses, public transport, and flights)
- Uniforms and protective clothing (if required by your employer and not reimbursed)
- Self-education expenses (related to your current job)
- Home office expenses (if you work from home)
- Union and professional association fees
- Tools and equipment (if necessary for your job)
- Phone and internet costs (if used for work purposes)
You’ll need to keep records to prove these expenses.
For Sole Traders & Business Owners:
If you’re running a business or freelancing, you may be able to claim a wider range of deductions. Common business-related tax deductions include:
- Office supplies and equipment (computers, stationery, etc.)
- Vehicle expenses (if the car is used for business purposes—make sure you
keep a logbook) - Business-related travel (flights, accommodation, meals)
- Rent for business premises
- Utility costs (e.g., electricity, water, phone)
- Advertising and marketing costs
- Accounting and legal fees
- Employee wages and superannuation
- Insurance premiums (for business-related coverage)
Important:
To be eligible for deductions, your expenses must be directly related to earning your income and supported by proper documentation.
Tax rules can be complex, and the ATO (Australian Taxation Office) has specific guidelines on what you can claim. If you’re unsure about what deductions apply to your situation or need help maximising your claims, feel free to get in touch with us.
We’re here to guide you through the process.
How do I ensure I'm meeting all my BAS and GST obligations?
The best way to stay on top of your BAS and GST is to keep accurate, up-to-date records and have the right systems in place. This means regularly reconciling your accounts, tracking GST on sales and purchases, and making sure you’re lodging your BAS by the due dates set by the ATO.
Using accounting software (like Xero or MYOB) can make things much easier, as it helps calculate GST automatically and keeps your reporting organised.
Many business owners also choose to work with an accountant or bookkeeper to review their records, prepare their BAS, and provide reminders about deadlines. This not only saves time but also reduces the risk of errors or penalties.
If you’re unsure about your obligations or want peace of mind, our team can guide you through the process and even handle your BAS lodgements for you.
What's the best structure for my business to minimise tax?
There’s no one-size-fits-all answer when it comes to choosing the best structure. The right option depends on your business goals, your industry, how you want to operate, and your personal circumstances. Common structures in Australia include sole trader, partnership, company and trust – each with its own tax implications, costs, and legal responsibilities.
While tax savings are often part of the decision, it’s also important to consider asset protection, flexibility, compliance requirements, and future growth. Sometimes the structure that looks most tax-effective in the short term may not be the best fit long term.
That’s why it’s a good idea to get professional advice before setting up (or changing) your business structure. We’ll take the time to understand your situation and help you choose the right structure that balances tax effectiveness with protection and peace of mind.
