If you’re thinking about starting a business, or have already started one, and are wondering if you can write off your logo design on tax, the answer is: it depends. According to the ATO’s website, certain start-up expenditure that would be deductible over five years under section 40-880 of the ITAA 1997 is fully deductible in the income year in which the expenditure is incurred.
To be eligible for the tax deduction, the logo design expenditure must relate to a small business that is proposed to be carried on, and it must be incurred in obtaining advice or services relating to the proposed structure or operation of the business. The entity that incurred the expenditure must also be a small business entity in that tax year.
So there you have it! Whether or not you can write off your logo design on tax depends on a few factors. But if you have any questions, be sure to ask a professional financial advisor for help before making any decisions about your tax.
We hope this helped clear things up for you. Happy tax season!
