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Claiming business website development costs
Posted by Team AVS on 22 Nov, 2017 0 CommentsMost businesses have an online presence – whether to advertise their business or allow customers to purchase goods or services. Websites vary in costs and complexity – from a simple “skin” to a retail site that you may have engaged a web developer to design and set up.
It’s just as well then that the Tax Office has recently provided guidance on how you can go about claiming a deduction for your website development costs.
Business owners of private companies often borrow money from their own companies for all sorts of reasons. However, there is an area of the tax law that seeks to sanction against situations in which private companies dole out money to those within a business, in a form other than salary or dividends, that needs to be understood by business owners. This is known as Division 7A.