If I purchase a camera for my photography business in May 2024 and do not claim any deductions this financial year, can I claim the deduction in the next financial year of 2024-25?
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No - unless business did not start till after 30 June 2024.
Camera is a depn claim, effective from when usage started.
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No - unless business did not start till after 30 June 2024.
Camera is a depn claim, effective from when usage started.
@Bruce4Tax Just checking, I also read somewhere that you can write off asset upto $20,000. Since the camera and lenses are less than 10,000 can it not be written off wholly in the financial year that it was purchased? Thanks.
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