I work as an employee, but also I have an abn and have been incurring expenses in the last financial year establishing a business. However, I have not actually commenced trading or completed setting up the business yet and it has earned no income. Can I / Should I claim the expenses I have incurred so far in my tax return lodgement?
Hi @JewelTransfers1,
Yes, you can claim expenses incurred in setting up your business. Just make sure that they fulfil the three golden rules for claiming deductions.
Hi @JewelTransfers1,
Yes, you can claim expenses incurred in setting up your business. Just make sure that they fulfil the three golden rules for claiming deductions.
I am finding it difficult to find or select the right section to enter this on online tax lodgement :(
22 Apr 2024 · 6 min read time
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