Hi all,
This is probably a stupid question but I’m going to go ahead and ask anyway. If I were to buy an iphone (also using for work purposes as I’m wfh full time) am I able to claim it as a tax deduction? Also, are there any implication if I an purchasing it on afterpay?
Thanks
Yes, so long as you paid for the device and you can produce evidence (e.g. invoice) for the purchase of the amount you are claiming, there's no reason for them to reject your claim for deductions. Likely will be split over 3 years.
Disclaimer: Not professional advice
Afterpay pays the bill in full and you "reimburse" them over the next three fortnights. The invoice will say paid in full or paid by Afterpay to some effect. No different to paying AMEX or VISA/MasterCard etc.
only the work usuage portion of the ph will able to be claimed. Doesnt matter about the afterpay as long as its invoiced in the current fin yr.
Just be mindful that if youre only consdering buying now you wont have much to claim this yr, ie: 2wks max and only the work portion (%) for handset and contract (calls\net)
Afterpay is just a payment method. Treat it like a regular receipt. If what you actually paid is less somehow, keep a record of what you paid to afterpay too. It should usually be the same though.
Thanks all.
Accountant.