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Can I claim deductions for items bought in Feb to start with sole proprietor business in March

Posted 29 July 2014 under Tax Q&A


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I started a sole proprietor hairdressing business on 01 March, I started to purchase stock and had some upgrades done to a rental property during Feb. Can I claim a deduction for the chairs and sinks, I purchased as well as the repairs to the deck. I am renting a small property because my home is not large enough for the business

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TaxTim TaxTim says:
29 July 2014 at 9:54

You can claim wear and tear on these items as they are assets used in the course of your business and qualify for a write off.


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