re: tax deductions for those in business
Posted: Thu Jan 20, 2005 11:27 amIn the business section of the forums, there's a new thread headed "tax deductions for those in business" (see http://forum.d70users.com/viewtopic.php?t=2171 )
The Financial Review article is a little light on the detail, so I headed off to the Tax Office website to find a copy of the new Taxation Ruling.
The ruling, entitled "Income tax: carrying on a business as a professional artist" is rather dry reading (like all other tax rulings or most government documents). Despite this, for anyone interested in this area, it has nearly a dozen good examples of whether or not the Tax Office would classify a taxpayer's activities as "carrying on a business".
A pdf of the ruling can be found on the Tax Office website at: http://law.ato.gov.au/pdf/tr05-001.pdf
regards
Mark
The Financial Review article is a little light on the detail, so I headed off to the Tax Office website to find a copy of the new Taxation Ruling.
The ruling, entitled "Income tax: carrying on a business as a professional artist" is rather dry reading (like all other tax rulings or most government documents). Despite this, for anyone interested in this area, it has nearly a dozen good examples of whether or not the Tax Office would classify a taxpayer's activities as "carrying on a business".
A pdf of the ruling can be found on the Tax Office website at: http://law.ato.gov.au/pdf/tr05-001.pdf
regards
Mark