Can you claim TRS AND report it during tax return for a laptop?
OR can only be done one OR the other?
As far as I know during tax return, we can claim depreciation value, as it is used for work.
Tourist Refund Scheme (TRS) and Claim during Tax Return for Laptop
BigLeviathan on 08/05/2017 - 11:36
Last edited 08/05/2017 - 12:50 by 1 other user
Last edited 08/05/2017 - 12:50 by 1 other user
Poll Options
- 0Better claim TRS only
- 1Better claim during tax return only
- 18You can claim both, TRS AND Tax Return
Comments
Ah…good point, what I meant is to get the GST refund through TRS and claim the laptop price during tax return (to reduce my in-take)
Can't see what you can't do that. Definitely only use the price without GST when you claim though i think.
If you've done a TRS claim you are not supposed to bring the laptop back to Australia. For the tax return you can claim an item you use to generate income. Unless you are based overseas and doing the tax return for Australian income I don't think you are able to legally claim a deduction.
Not true, if under the concession it's tax free, otherwise pay the duty.
The laptop price is less than $900, thus it is under concession rule, I believe?
Yup.
You mean "laptop + all other goods being brought in" is under the concession. The scheme is called Tourist Refund Scheme and in the spirit of it is for goods going out of the country. As someone else said as there is a paper trail of you having claimed GST and then claiming a tax decution you could run into problems later. Unlikely but possible
If you've done a TRS claim you are not supposed to bring the laptop back to Australia
If something like a laptop you've brought out of the country was not meant to be brought back into the country after TRS, then they would make the concession threshold lower than it currently is so that you have to pay the GST if it's brought back in.
And if you say they call it the Tourist Refund Scheme because it's meant to only be for "tourists", then they would come up with a rule such as one that excludes Australian Citizens from participating in the scheme.
But they haven't done that, so I'm not sure where you get your idea about the "spirit" of the scheme.
I guess what I'm saying is, I don't care (and I'm sure many people here wouldn't either) about the "spirit" of the scheme - as long it is all above board and nothing illegal, then it's fine by me.
The second paragraph of the relevant page says:
The TRS allows Australians and overseas visitors…
and later on there is this paragraph:
Bringing goods back into Australia for which you have already received a TRS refund
So it's perfectly legal for Australians to bring goods back and pay the duty if over the concession.
Look beyond the name and read the letter of the law, not make assumptions about the "spirit". I agree it would have been clearer if it had been Traveller Refund Scheme.
Also why should it be a problem claiming a tax deduction and subsequent depreciation later if you claim the GST-free price? That's how much was paid.
I can confirm that the laptop is not supposed to be brought back to Australia. I don't see how they can police that, and I've claimed TRS and brought stuff back many times.
However if you're claiming it on business, then there's a paper trail to follow.
Yes you can claim both TRS and depreciation on your laptop - but make sure when claiming the depreciation you only include the non-gst price as if not then you might find yourself in a bit of trouble if audited.
If you intend to claim it, make sure your paperwork is in order. I know someone who tried to claim a laptop purchased in someone else's name, and it got rejected. Purchases above $1,000 must have receipts with the claimant's name on it (and the business address, ABN, etc.). Below $1,000, the receipt does not need the person's name, but if there is a name on the receipt, then it must be that of the claimant (which is silly, but that's how it is).
There is an app for doing your TRS claim before showing up at the airport. This can help save time waiting there.
I don't see how those 2 are related ?
Unless you're talking about claiming GST @ TRS and then also include the GST (that would be refunded to you) in the price of the laptop during your Tax return. In that case you're double dipping ;) And everybody hates double dipper