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assuming you bought capital equipments for business use, you can start depreciating them when they are purchased/ready for use. assuming you bought a computer at 30/06/09 for $900 inc GST, under SBE, you can write off the equipment under $1000. therefore you have a $900 loss for the year and no income generation, in 2010, you make $900 in business income, the loss from 09 will be offset again income in 10. hence, nil profit for the business |
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