I was looking at getting the Galaxy Tab 7.7 3G version (which is not available from stores locally) before the end of financial year so I can claim it as work related expenses at tax time (and yes, it IS for work!). I m looking to get it from places like Kogan or DWI . As DWI confirmed that they dont charge gst, is there any issue using their reciept for claiming it as work related expenses?
Online Purchases used to claim as work related expenses for tax
Taita on 13/06/2012 - 13:59
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I do it all the time.
thanks guys… now off to find the cheapest price….
If paying in foreign currency, don't forget to hang on to any credit card (e-)statements that show the conversion rate and service charges.
I am not an accountant.
If it is for work related expense, as long as you have the invoice (+credit card statement if in foreign currency) it should be fine, and you should be able to claim full or partial amount of the overall cost as work related expense. It does not matter whether the price includes GST or not.
However if you are running a business (sole trader, company, etc) that's GST-registered, you would also be able to claim 10% against your GST liability in BAS.
You know a disclaimer like "I am not an accountant" isn't necessarily effective if someone does then rely upon your advice, right?
Depending on what you mean by effective, and what the disclaimer is effective for. At the end I cannot stop people's own stupidity by following advice on the Internet without verifying with an account or doco on ATO's website, even when there's an up-front disclaimer…
relax, I was only after some general info :)
careful crossing the road ;)
Pubic lice are bad.
Public lies are bad.
also for you it does not mater if u buy 15th june or 1st july…
the tab like everything else will be depriciated and its proportioned on days owned. by using the reducing averages method to calculate, u can claim 66% of the value per year. but seeing u only owned it for 15 days that would be worth not much at all in deductions this year (purchase price of tablet * 0.66 *15/365)
(I am not an accountant)
Doesn't that depend on if it is an asset or expense? In terms of personal tax returns I thought things like this count as an expense? For example, I claim safety boots as an expense rather than an asset.
Disclaimer: I am not an account.
For individuals you can have immediate write-off of assets if it is under $300. Linky to ATO website. For small business it's $1,000 for this financial year but $6,500 next year onwards, so it's possible to write off immediately an Alienware or Mac Pro. Linky to ATO website.
So assumes you cannot find a Galaxy Tab 7.7 for under $300 (not likely from previous deals), ziadau would be right in this case that assets need to be depreciated.
One more ATO link: Work-related expenses — tool and equipment. Again, it's complicated and if your account matches the complexity of our nation's income tax system, it's best to find an accountant.
Thanks for the clarification.
You may do a salary sacrifice on this and reduce your wages. It doesn't subject to FBT.
As long as you have an official invoice.