Can I claim bank fees and interest as a business expense in Australia?

Yes, you can claim: - **Bank fees:** Monthly account fees, transaction fees, and merchant fees (like Square or Stripe fees) for your business account. - **Interest:** Interest on loans used for business purposes (e.g., a loan to buy a business vehicle or equipment). If you have a 'mixed' loan (e.g., you used a credit card for both business supplies and a personal holiday), you can only claim the portion of the interest that relates to the business purchases. This is why having a separate business bank account and credit card is highly recommended.

• Merchant fees (Stripe/Square) are 100% deductible
• Business account monthly fees are deductible
• Interest on business loans/credit is deductible
• Mixed-use loans must be apportioned
• Credit card annual fees may be partially deductible