Tax deduction question on item purchased by someone else?

[Psyk]

Hello all,
If someone purchases say a laptop or a mobile phone for you and then you transfer the funds to that person via Internet banking, how can you still claim the item as a tax deduction/depreciation?

What documentation would be needed?

Thanks in advance.

 

[Deena]

Surely because it would not be in your name you would not be able to claim it as a tax deduct, I would imagine the purchase would have to be in your name to enable you to claim a deduction. Transferring funds to thier account would not prove anything. Sorry that is my thoughts.

 

[ugotadollar4me]

yes you could claim it threw your tax, just get that person to write you a receipt, if this person is gst registered then you could also claim the gst

 

[marg4000]

As the paperwork will be in their name the claim would probably refused if it came to an audit.

Why not simply buy it yourself?

If that is impossible, then get the person to pay cash but put any paperwork in your name.
Marg

 

[MattR]

Document that they are holding it in "Trust" for you and that you are the beneficial owner.

 

[Psyk]

Thanks all.

Have resorted to funding it myself.