Blog Q&A Calculators Students Logbook Contact
Only 3 Days Remaining of Tax Season 2017! Click here to file your tax return with TaxTim now.

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

Posted 26 November 2015 under Tax Q&A


Need help
submitting your
Tax returns?


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Ulsa says:
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?

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

TaxTim TaxTim says:
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.


Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Need help
submitting your
Tax returns?


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started