Address the main issues raised, apply the relevant ITAA 97 provisions and calculate the amount affect on taxable income/ taxable liability:

1.New business costs -

I consulted Johnathon Lawyers in the first week of January and they recommended to me after considering partnership, trust and company structures and my personal circumstances including my ambitions, that I should set up a Small Business Entity in the form of a company, and register the vehicle in the name of the company. Their advice cost me $1,000.

Accordingly, on 9 January 2020 I purchased a company online using Shelf Company Services and registered my company as Joyous Journeys Pty Ltd, for a cost of $690.Registration was confirmed on the day, and I then applied and received an ABN and TFN with the ATO using my.gov.au at no cost.I look forward in future for you lodging my company's annual review documents with ASIC.

Marks allocated: 2 marks