Can I claim my storage costs as a business tax deduction?

In many cases, yes, but check with your accountant or registered tax agent, because it depends on your situation. As a general rule, the Australian Taxation Office lets businesses claim expenses they incur in running the business. Storage used for business stock, tools or equipment is commonly treated that way. Storage used for personal or household goods generally isn't. If you use a container for both, you may only be able to claim part of it.

We can't give tax advice, but we can make record keeping easy. Your storage fees are regular, fixed monthly amounts, billed on the 20th of each month and paid automatically from your bank account or card. That makes them simple to track in your books. Keep your records, and talk to us if you need copies.

A tip for tradies and small business owners: keep a simple note of what you store and why it is for the business. If your accountant asks, you will have the answer ready.

Compared with leasing a factory or warehouse, a container keeps your storage costs low and predictable. Our prices are $198 (10ft), $299 (20ft) and $580 (40ft) a month, with no deposit and no setup fee. For a limited time, get 50% off your first three months.

Sunshine Self Storage is located in Albion, just off Ballarat Road. Book online, or call us 03 9010 6147.