Hi,
I invested in an e-commerce website in FY23 while working from home. It is a startup business, and I spent a significant amount of money on the setup, including expenses for a laptop, software, and advertising. Despite experiencing losses in FY23, I have several sales but still in the lost I'm wondering if I can still claim the Technology Investment Boost's 20% bonus deduction. By the way, my other business generates some income.
Regards,
It hs not passed into law yet.
https://www.ato.gov.au/misc/downloads/pdf/qc68791.pdf
It is likely your startup losses will be quarantined by the non-comm loss rules.
https://www.ato.gov.au/business/non-commercial-losses/
It hs not passed into law yet.
https://www.ato.gov.au/misc/downloads/pdf/qc68791.pdf
It is likely your startup losses will be quarantined by the non-comm loss rules.
https://www.ato.gov.au/business/non-commercial-losses/
I work as an employee, and in addition to that, I work as an Uber driver in my spare time to cover the costs of my startup business. I cannot deduct these costs from my wage income, but can I deduct them from my Uber income? I engage in this job specifically to cover my additional expenses.
However I set up my ecommerce business it is already started to work but didn't see enough product to move to profit
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