Is It Possible Claim Tax Return for WFH Setup from The Gift Cards I Purchased ?

perthguy92 on 18/09/2024 - 22:42
Last edited 19/09/2024 - 11:15 by 1 other user

I'm new to Australia and this is my first financial year. And I read and understand a bit about claiming tax return here. But have some questions about claiming tax return for WFH purpose purchases.

I need to get a Monitor and a chair for my work.

I already had $75 in my Amazon account. I purchased $300 Gift cards from Afterpay (Have receipts and screenshots). Then I paid $370 for a monitor on Amazon. As all were from Gift Cards can I claim tax return for the remaining $300 gift cards (specifically purchased today only to purchasing the Monitor)?

I'm asking this because I'm planning to purchase a chair in same way. Just want to make sure this is possible to claim tax in this way !

TIA

• 

  yellowfever on 18/09/2024 - 22:50

  +1

  Just claim it.

  • 

    perthguy92 on 18/09/2024 - 22:58

    Thank you very much

• 

  Dumax on 18/09/2024 - 22:56

  +1

  As long as you purchase the gift card yourself (i.e. incurred the expense) - you can claim the deduction (see here).

  • 

    perthguy92 on 18/09/2024 - 22:58

    Thank you very much

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  MistaL on 18/09/2024 - 23:56

  +23

  Not an accountant

  You are claiming the monitor and chair as the expense, not the gift card purchase.

  You'd need the invoice for the monitor and chair to make a claim.

  • 

    JDMcarfan on 19/09/2024 - 09:13

    +2

    am an accountant

    ^This is correct. Tax deductible expense is only for the monitor ($370). Given >$300 you cannot claim in full and must depreciate over useful life.
    No disclosure on the cost to yourself (presuming giftcards purchased discounted) is required. You can note the fill $370 as the cost of the asset.

    • 

      perthguy92 on 19/09/2024 - 16:25

      Yea I get it.

      But initial 70$ was something I got from completing a survey. Remaining 300$ I bought yesterday via After Pay. So, I actually paid (pay) 300$ out of my pocket. So, I think I can claim for only 300$ I guess ?

      • 

        JDMcarfan on 19/09/2024 - 21:27

        Nope. The source of the $70 is irrelevant. If you want to be perfect you’d report it in you tax return as taxable income (but who would?).

        $370 is the amount that was paid to acquire an asset used to make assessable income. That’s what you claim

• 

  theHMASfriendship on 19/09/2024 - 00:48

  +2

  What did your tax invoice say when you asked it?

  • 

    perthguy92 on 19/09/2024 - 16:26

    Sorry I didn't get it. I meant the invoices for purchases only

    • 

      theHMASfriendship on 19/09/2024 - 16:46

      I accept your apology, City Man Ninety Two

      • 

        perthguy92 on 19/09/2024 - 21:54

        :D

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  netjock on 19/09/2024 - 10:11

  Save yourself the trouble. Just submit the invoice for claims.

  • 

    perthguy92 on 19/09/2024 - 16:26

    Yea Planning to do that

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  Drakesy on 19/09/2024 - 14:40

  Even though you used your gift cards you still have an invoice for the total paid for the monitor - that's your evidence of claim.

  • 

    perthguy92 on 19/09/2024 - 15:48

    Thanks.
    But that total paid amount shows as 0 as 370 is deducted from Gift cards. Anyway I have receipt for 300 worth gift card purchase as well

    • 

      netjock on 19/09/2024 - 20:17

      Your invoice would have say $370 and GST of 1/11th

      Payment -$370 (gift card)

      It shouldn't be zero

      Imagine how someone would manually audit revenue when some invoices are $0 without telling you what cost of product and payment came from.

      • 

        perthguy92 on 19/09/2024 - 20:24

        https://imgur.com/72CyfI5

        This is how it is.
        Then I might need to just claim for Gift Cards I purchased I guess

        • 

          netjock on 20/09/2024 - 09:18

          @perthguy92: "Total" is the amount you claim.

          Gift card is the amount you paid which comes out to be zero (nobody letting you out of the shop without paying)

          If you would have paid by credit card then gift card would be "credit card"

          No biggy just claim the $370.

          • 

            perthguy92 on 20/09/2024 - 09:31

            @netjock: Ahh is that so,
            Ok out of 370$ , 70$ is something I received from a Survey (so, not paid) , only 300$ was paid. That's why I thought I might want to specify that amount specifically

• 

  82norm on 19/09/2024 - 16:02

  Can any tax accountant translate what the Actual net return works out to be? Does it translate to say, 3 coffees or a Big Mac meal deal? I always wonder whether the effort is even worth the reward in the grand scheme of things.

  • 

    netjock on 20/09/2024 - 09:21

    If you got 10% discount on gift cards it is like $37 then cash back on top (if it is allowed)

    It really depends on how fast you are within purchasing cards and turn them around

• 

  coolsteps on 21/09/2024 - 11:02

  usually only can claim the tax invoice for the item purchased not gift cards , but i had a mate that used claim gift cards as a business expense too saying its marketing sales end of the year gift for clients being loyal. not sure if its legal or not and if ATO could claw it back in later years?