News & Tax Insights

Can you claim a tax deduction for cleaning up an environmental mess?

Blog Post
Broadly yes, provided the expenditure is for the sole or dominant purpose of environmental protection activities that are sufficiently linked to your earning activities. You can claim an immediate tax deduction for the costs of environmental protection activities which are undertaken by you, or on your behalf, to: prevent, fight or remedy pollution or treat, clean up, remove or store waste where that pollution or waste results from or is likely to result from: your earning activity the site of your earning activity, or a site where a business was carried on and you acquired and continue to carry on…