Hello, the whole of my income comes from my employment. I have recently set up a business (as a sole trader) that hasn't made an income yet, and have incurred expenses in doing so (registration, subscriptions, business cards...). Can I claim these expenses on my individual tax return even though the business hasn't made money?
Hey @MarjorieC,
If you operate your business as a sole trader, you must lodge a tax return, even if your income is below the tax-free threshold.
Check out our page on income tax returns.
You may be able to claim expenses relating to starting your business.
Have a look at our business tax deductions page, for what you can and can't claim.
Hey @MarjorieC,
If you operate your business as a sole trader, you must lodge a tax return, even if your income is below the tax-free threshold.
Check out our page on income tax returns.
You may be able to claim expenses relating to starting your business.
Have a look at our business tax deductions page, for what you can and can't claim.
Hi Jayne, I may have not made myself clear in my initial enquiry. My income is above the tax-free threshold and it only comes from my work as an employee. I would like to know if I can claim the expenses from my newly created business against my income as an employee (and thus lower my taxable income)
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