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Tax advice
What are my tax claiming options with starting a business from home?
You can claim an immediate deduction on expenses incurred in the course of carrying on your business provided they are not of a capital or domestic nature.
Am I eligible to claim the 50% rebate on a business vehicle?
To be eligible for the investment allowance, you must purchase an eligible asset that will be primarily used in your business in Australia.
Have I spent enough to get the 50% tax allowance?
When buying more than one computer you can group them under another provision.
Can you claim the 50% tax allowance when buying a business?
A new business is not a depreciable asset.
Are demo cars covered by the 50% tax rebate?
If a vehcile has low kilometres and been used for demo purposes only, it’s likely to qualify.
We’re about to start a new business. Should we register now to get the 50% allowance?
In principle, you can claim the investment allowance if your business has not commenced when your assets are to be used primarily in the business.
I am a very small business that pays a tiny amount of tax. Is it worth buying a car with the 50% allowance?
Remember that the investment allowance is not a rebate, but a tax deduction based on your marginal tax rate.
How do I satisfy the requirement that an asset bought with the 50% tax allowance is used primarily for business?
If you travel from home to a client and then on to your business, that would constitute business travel.
Can I use the 50% tax allowance to buy an overseas asset?
Freight and installation can be included in the asset’s cost base.
I am a real estate agent paid on commission. Can I get the 50% tax rebate on a new car?
The key issue is whether or not you are actually carrying on a business.
Can I claim an LPG conversion under the 50% allowance?
The LPG conversion kit, assuming that it is a new asset which costs more than $1000, would be eligible.
