Hi all,
Wanted to get your opinion on using personal credit card for purely business use only given there are more attractive offers on personal credit cards such as bonus points, no annual fee (for the first year), etc compared to business credit cards.
Are fees and interest charged still tax deductible if purely used for business?
What is your say on this?
Not certain, but I thought most personal credit cards explicitly exclude any business use in their T & C’s – so that may come back to bite you if you claim the spending as a business expense and get audited by the ATO.
I do agree that personal cards generally come with better terms and lower fees, so if you can find a card that allows for personal & business spending, I’d say go for it.