Business Tax Deductions for Gray Imports

Rick Sanchez on 23/11/2014 - 07:39

Hi All,

I wish to buy a new phone which will be used for business purposes only.

Are gray imports tax deductable under business expenses?

Obviously I wouldn't be able to claim any GST back but with an invoice would it still be able to be claimed as an expense? I couldn't find any statement regarding it on the ATO website.

Cheers !

Financial

Comments

  • scotty on 23/11/2014 - 08:46
    +1

    If you have supporting documents with it, why not? Invoice, receipts, credit card statement, etc. Business buy services and requirements from overseas vendors — hosting, advertising service, out sourcing to freelancers, etc — so I don't see how a phone purchased overseas is different.

  • Rick Sanchez on 23/11/2014 - 12:17

    Thought so, just wanted a confirmation. Thanks!

  • Baysew on 23/11/2014 - 13:07
    +1

    See item G14 ATO

    Amounts claimed on a Tax Return are always net figures. ie without GST.

    GST on sales and purchases are sorted out on your Activity Statement.

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