Hello!
I've just registered as a sole trader and plan to start conducting business next month as a professional photographer.
I am very new to this and am trying to set up spreadsheets and documents in relation to the business so that come next end-of-financial-year I am prepared with all the information I need at the ready.
I have acquired all the equipment I require to start my business: camera, lighting, backdrops, etc - around $4700. I will be conducting my business in a studio I've created in my home, so I intend to document my hours and details in a work-from-home diary and claim the 67cents per hour as I work.
What I was wondering is, I noticed that you can choose to claim the 67cents per hour or you can choose to claim the "actual cost" instead, and not both. Are startup costs exempt from that or if I intend to claim the startup costs, must I claim everything in the future as "actual cost" also? Or is the 67cents work-from-home entitlement only applicable for the employees of a company and not a sole trader working from home?
I'm sorry if my question is unclear. I wasn't entirely sure how to word it.
Thank you for any help! :)
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