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New Member
posted Feb 4, 2024 2:45:19 PM

I started a business and invested some money into it, does that give me any tax benefits

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1 Replies
Moderator
Feb 4, 2024 2:56:42 PM

It depends on what you did with the money. Many costs can be claimed against your business income, though startup costs often can't be claimed. If you bought something like a vehicle or machinery, you can take Capital Cost Allowance on it to further reduce your taxable business income.