Are domain name purchases considered tax losses?

[techmo]

I'm new to the sole trader sector. I have an ABN to monetise my websites using social media and advertising systems, and intend on using it for providing ad-hoc digital marketing advice. I also use my ABN to purchase domain names.

I am filling out my tax return at the moment.

Would a purchased domain name that is yet to generate revenue be considered as a non-primary tax loss for sole trader business tax purposes?

 

[Bacon Farmer]

Nope, unless your business is buying and selling somains and only then when you've sold it.

 

[findtim]

i claim mine as purchases just like a piece of equipment, if i sell i treat it as income just like doing a website.
so the profit or loss just works itself out when ever it occurs.
tim