Hi ATO Community,
I was wondering whether or not a sole trader home-operated food business needs to either:
Thanks for helping here!
Hi @JovinJ,
The answer is B.
You'll need to claim all your expenses as deductions under business-related expenses.
In the same way as an employee must report all of their salary and wages, and then claim any work-related deductions, a business must too.
You can read about business deductions and completing the business section on individual tax returns, net income or loss from business, on our website.
Hi @JovinJ,
The answer is B.
You'll need to claim all your expenses as deductions under business-related expenses.
In the same way as an employee must report all of their salary and wages, and then claim any work-related deductions, a business must too.
You can read about business deductions and completing the business section on individual tax returns, net income or loss from business, on our website.
Thanks for that @BlakeATO ! :smileyvery-happy:
I thought that would be the case but everyone uses office supplies & technology equipment as examples online, and the last thing I want is to accidentally end up on the wrong side of the ATO!
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