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Sole proprietor can you claim startup cost and amount paid for business

Posted 26 November 2015

Ulsa says:
26 November 2015 at 13:32

If you've bought a new business and you are a sole proprietor where can one complete the amount paid for the business?

TaxTim TaxTim says:
26 November 2015 at 15:06

You can claim wear and tear on assets purchased. Please make use of our Wear and Tear Calculator

The actual amount paid for the business would be a capital cost and therefore would not be deductible.

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