Capital Start-Up Expenses – Now Deductible Immediately


The Government has now introduced an immediate deduction for small business start-up expenses incurred from 1/7/2015. Eligible expenses include any accounting or legal advice relating to setting up proposed structures or the operation of the business and any payments to Australian government agencies for a fee, tax or charge incurred in establishing or setting up the operating structure including the cost of raising capital for example accessing crowd-sourced equity funding. Its doesn’t include stamp duty on real estate or taxes in general such as income tax. There are numerous items of expense that may not qualify, so best to check first.