Business capital expenditure incurred in relation to the business that used to be carried on or proposed to be carried on. Such as Costs of establishing the business structure (e.g. company incorporation costs), Business relocation costs, Market research reports for new businesses.
Hi @JohnsonP,
The black hole deduction provisions pursuant to section 40-880 of the ITAA 1997 apply to business related capital expenditure incurred on or after 1 July 2005. It applies to the 2022-23 income year but to be eligible, the costs must not be deductible under any other part of the tax law. Nor form part of the cost of a depreciating asset or of land.
For more info, you can check out Other capital asset and expense deductions page on our website and read TR 2011/6.
Hi @JohnsonP
We'll do some research and get back to you.
Hi @JohnsonP,
The black hole deduction provisions pursuant to section 40-880 of the ITAA 1997 apply to business related capital expenditure incurred on or after 1 July 2005. It applies to the 2022-23 income year but to be eligible, the costs must not be deductible under any other part of the tax law. Nor form part of the cost of a depreciating asset or of land.
For more info, you can check out Other capital asset and expense deductions page on our website and read TR 2011/6.
Thanks for your kind replies and for the references.
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