Home – New Forums Money matters Sole Trader also working outside as full time employee tax questions. Reply To: Sole Trader also working outside as full time employee tax questions.

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Alan Maddick
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Without knowing everything about your situation it is unlikely that the money you have spent will as you put it “roll over” to your personal tax return, this actually quite a simple piece of tax law. You can find out all you need to know at the ATO, you will need to read through the four tests to see if you qualify — https://www.ato.gov.au/Business/Non-commercial-losses/

Most important is – is your business plan on track? Was this the expected outcome at this point in time in your new business? Sounds like you have invested a lot of money in the business, I would work with your Accountant (or another business adviser or get a better Accountant if you are not confident in their abilities) to get your business kicking goals.