@Bruce4Tax I am starting a business as a sole trader with a registered ABN and Business name prior to the end of the 2023 financial year. I also work a FT PAYG job.
For me to purchase the following and claim it as a tax deduction what are the requirements:
essential business machine: $4500
laptop: $1400
software $650 for 12 months
logo design $120
standard business name fees etc
while very confident I will make making a income from the business in the 2024 financial year, It will be difficult to make sales in the 2023 FY. For arguments sake what does earning over or under $20,000 per year in the 2024FY change?
i have tried reading through a number of the pages but I can’t quite make sense of it.
thanks in advance.
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