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

By Marc Sevitz · Updated

Ulsa

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.