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Darsh10(Newbie)Newbie
28 Mar 2021

I commenced by new accounting practice last year. The ABN registration was on 1 July 2020 (so FY2021 being the first year of tax lodgement) however I had incurred some set up expenses personally prior to the registation. The expenses incurred are below:

- Website development & domain registration

- Logo design

- Company registration with ASIC

- Copyright/Trademark Registration

- Hosting fees & SSL certificate

- Public practice certifate fees (to enable me to establish my own practice)

Will I be able to claim a deduction in FY2021 for some of the above expenses ? For copyright/trademark, will I be able to add this as a intangible asset in FY2021 ?

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1,184 views
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TonyATO(Community Support)Community Support
29 Mar 2021

Hello @Darsh10

You can claim an immediate deduction for certain start-up expenses, but they need to be claimed in the financial year they are incurred. If it is too late to claim an immediate deduction, you may be able to claim depreciating for certain capital expenses.

You can find more information on our website:

    • Certain start-up expenses

    • Depreciating assets

    • Operating expenses

    Hope this helps,

    Tony

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    Most helpful reply

    TonyATO(Community Support)Community Support
    29 Mar 2021

    Hello @Darsh10

    You can claim an immediate deduction for certain start-up expenses, but they need to be claimed in the financial year they are incurred. If it is too late to claim an immediate deduction, you may be able to claim depreciating for certain capital expenses.

    You can find more information on our website:

      • Certain start-up expenses

      • Depreciating assets

      • Operating expenses

      Hope this helps,

      Tony

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