Quick Tax Question

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From: Ayesha Todd


Just a quick question....I am putting together all the receipts for the accountant....will I be able to claim the purchase of a UBD if we used it for research of buying an IP there this year and going to be using it for purchasing others? We currently live in NSW and buying in WA.

Ayesha
 
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Reply: 1
From: Dale Gatherum-Goss


Hi Ayesha

I see no reason why you cannot claim this item if you already own property, or, if you have a job that requires you to be on the road from time to time.

Worst case scenario is that you add it to the Capital Costs of buying the property which will help reduce your CGT one day when, and if, you sell it.

Good luck

Dale
 
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Reply: 1.1
From: M O N T O


Dale,
This might be a bit extreme, is a $3000 GPS navigational system for motor vehicle fully tax deductible, for assisting finding the way to properties.
 
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Reply: 1.1.1
From: Dale Gatherum-Goss


Hi Monto!

Well . . . funnily enough it is a little extreme for most of us, however, if you were a buyers agent, it would make good commercial sense and might be a tax deduction.

Even then, it would be depreciated over a number of years rather than claimed in one.

Great idea though

Dale
 
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Reply: 1.1.1.1
From: Wei Ng


OK another one Dale. This one was actually suggested by Monto... purchase of Robert Kiyosaki's Cashflow 101? He argued that since it was for financial "education"...


Cheers
Wei
 
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Reply: 1.1.1.1.1
From: Dale Gatherum-Goss


Hi

I have no problem claiming cashflow games as a tax deduction given the extra learning and income that it will help bring.

Go for it!

Dale
 
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