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The Australian Fiscal Fiend (Federal Tax Department) puts limits on what we can do ... initial investment is problematic, unless your whole business is motorsport (mine is not), but we
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06-11-2015, 10:12 PM
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#11 (permalink) |
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A True Z Fanatic
Join Date: Dec 2009
Location: 03350 Australia
Posts: 1,515
Drives: 09 Nissan 370Z M6
Rep Power: 39974   |
The Australian Fiscal Fiend (Federal Tax Department) puts limits on what we can do ... initial investment is problematic, unless your whole business is motorsport (mine is not), but we do derive some motorsport related revenue so costs can be offset against income.
I will capitalize the build cost and depreciate the investment against revenue, so over 5 years, the cost can be swallowed. |
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