Joy C.
Cassilis, NSW
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Hi I want to start my own website/blog. Is the monthly web hosting fees tax deductable and the camera gear i will be buying to take photos of my content be tax desuctable too? If you’re here in australia you need an ABN number to have a website. My business structure most likely is sole proprietorship.
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Hi Joy,
you have all these questions to answer plus a buckeload more:
- do you need to register for GST?
- will you have employees?
- is your new business going to operate at a profit?
- if it is going to make a tax loss, can you apply the losses to your other (assessable) income?
- what are you going to do about record-keeping?
- the list goes on....
the best thing you can do BEFORE you do anything else is get yourself a good accountant to guide you through the maze of small business. It probably wont be real cheap, but it WILL save you a lot of headaches in the long run.
good luck
Brendan