Liquor licence application fee

Question

 · Accepted Answer

CaroATO · Answer

Legal fees are an operating expense, whereas the liquor licence is capital in nature, it's an asset. Legal fees are deductible in the year they were incurred once the eligibility criteria have been met. Have a look at the information on our website where it talks about what is a statutory licence (https://www.ato.gov.au/Business/Capital-gains-tax-for-business-assets/In-detail/CGT-rollover--statutory-licence-holders/?page=2) and operating expenses (https://www.ato.gov.au/Business/Income-and-deductions-for-business/Deductions/Deductions-for-operating-expenses/#Operatingexpenses).

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