FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


Sole proprietor can you claim startup cost and amount paid for business

Posted 26 November 2015

Ulsa said:
26 November 2015 at 13:32

If you've bought a new business and you are a sole proprietor where can one complete the amount paid for the business?

TaxTim Marc TaxTim Marc said:
26 November 2015 at 15:06

You can claim wear and tear on assets purchased. Please make use of our Wear and Tear Calculator

The actual amount paid for the business would be a capital cost and therefore would not be deductible.

This entry was posted in Tax Q&A and tagged , . Bookmark the permalink.





Submit your tax return right here!
Get started

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund
Answer simple questions about your incomes and expenses. TaxTim does the rest. Just click click, submit.

Make tax easy

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.