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What types of legal expenses are tax deductible?

Posted by Team AVS on 15 Mar, 2018  0 Comments

When a legal expense is incurred in relation to the operation of a business to produce assessable income, it is generally allowable as a deduction. Exceptions are when the legal fee is capital, domestic or private in nature if it is specifically excluded by another section of income tax legislation, or is incurred in earning exempt and non-assessable non-exempt income.


Claiming business website development costs

Posted by Team AVS on 22 Nov, 2017  0 Comments

Most businesses have an online presence – whether to advertise their business or allow customers to purchase goods or services. Websites vary in costs and complexity – from a simple “skin” to a retail site that you may have engaged a web developer to design and set up.

It’s just as well then that the Tax Office has recently provided guidance on how you can go about claiming a deduction for your website development costs.


Claiming start-up costs for Immediate deductions

Posted by Team AVS on 11 Oct, 2017  0 Comments

Before July 1, 2015, relevant business capital expenditure, including start-up expenses, was deductible under the auspices of this five-year deduction entitlement housed under a section of the capital allowances rules. However, after that date, certain start-up expenses for businesses, including costs associated with raising capital, that would otherwise have been deductible over five years, can be immediately deductible. These include professional expenses associated with starting a new business, such as professional, legal and accounting advice


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