New to this forum so apologies if this has been asked before.
I’ve recently started a small side business (sole trader) and purchased 8x soft drink/confectionary vending machines. Total cost was just over $50k, the machines should turnover about $20K this year. I work full time as well so am I able to claim the instant tax write off then claim the losses the business will have against my full time job?
Hope that makes sense… haha