Are you using the app within the business? if yes, then it is claimable. Do you use the expense personally? Then you need to adjust for a private use portion.
Can you do a topic on side hustles just starting out buying equipment but not yet able to make a income yet? Can capital expenses be claimed later when you make an income?
I've been watching your videos and they've been really helpful! But I have a question and not sure if it'd make for a good video. I bought tools for personal use a year ago but now I want to start my own business and have these tools as assets in the business (I have all receipts). Can I claim the full value or a deprecated value? Or can I no longer claim these as an expense?
What other small business tax topics do you want to see me cover?
Family trust with a small company
Awesome videos man super helpful, makes it so much easier to understand , just subscribed ! Keep them coming 🙌
Thanks!
Can you purchase’s things off marketplace? For the business as a write off ?
Yes but you still need some form of record.
what about for selling stuff online like print on demand. Can you claim subscription to app that are used for the business?
Are you using the app within the business? if yes, then it is claimable. Do you use the expense personally? Then you need to adjust for a private use portion.
Can you do a topic on side hustles just starting out buying equipment but not yet able to make a income yet? Can capital expenses be claimed later when you make an income?
Have a look at my video on Non Commercial Loss rules.
Your video is very helpful, do you have video on how much percent a sole trader pay for the tax.
Thanks! No I don't currently.
Thnx 🙏
All good!
I thought all sole traders did their business as a cash basis and company structure as accrual method
Probably that would be how most do it but not all would.
Thanks for the info mate,
so just to clarify when buying inventory for a store, you cant claim the full amount of the inventory, only if it has sold?
Yeah it goes on a Cost of Goods Sold method. I have a full video on this topic on my channel.
Please answer this question. A sola trader like a contractor can include in expense persone development Training cost for his business?
Do you meet all the things I discussed in this video?
thanks! so smart
No worries!
Thank you mate
No worries!
hi bro please explain cleaning businesses which best company or sole trader
Have you asked your tax agent/accountant?
I've been watching your videos and they've been really helpful! But I have a question and not sure if it'd make for a good video.
I bought tools for personal use a year ago but now I want to start my own business and have these tools as assets in the business (I have all receipts). Can I claim the full value or a deprecated value? Or can I no longer claim these as an expense?
If you purchased something prior to the business existing, you can't claim it in most circumstances.
Bummer!
Keep up the good work though 👍