Author: Greg Hayes on
24 August 2009
I am wanting to start up my own freelance graphic design business from home. To do this I need to update my computer and software. I'd like to know what my options are regarding claiming this on my tax - do I need to earn a certain amount before I can claim, are there any rebates, am I better of renting what I need or buying it all out right?
Author: Greg Hayes on
14 July 2009
I am a sole trader and I am interested in buying a new vehicle. Am I able to claim the 50% rebate?
Author: Greg Hayes on
14 July 2009
I am a sole trader and I am interested in buying a new vehicle. Am I able to claim the 50% rebate?
The vehicle would be for the sole purpose of the business as I will not be trading my car in.
I am not sure if I am eligible as I am only a new business (about two years old), and part-time as I still am required to work full-time until I can build up the business. The business is function designing and hire. As I am still building the business, at this time I do not claim GST. So I'm not sure if I can claim the rebate at all.
To be eligible for the investment allowance, you must purchase an eligible asset that will be primarily used in your business in Australia.
A car is an eligible asset for the investment allowance. You simply need to be able to establish that the vehicle will be primarily used in your business. This would be tested on a usage basis. You would need to be able to prove that more than 50% of the usage was for business purposes.
The fact that your business is in start-up phase does not preclude your eligibility. You probably need to get some advice specific to your situation. It would be a good idea to go over the facts with your accountant.
Author: Greg Hayes on
2 July 2009
I just purchased a work laptop and it came to $1031. Am I able to get the 50% rebate? I have been told it needs to be $1000 plus GST, or $1100 in total.
Author: Greg Hayes on
1 July 2009
The purchase of a business does not qualify for the investment allowance.
Author: Greg Hayes on
25 June 2009
New cars used primarily in a business in Australia are eligible assets for the investment allowance.
Author: Greg Hayes on
19 June 2009
My wife and I are about to start a new small business where we will be required to buy a dual-cab ute and a catering trailer.
Author: Greg Hayes on
18 June 2009
I am a new business earning a small income of around $32,000 per annum.
Author: Greg Hayes on
17 June 2009
I am a sole trader. How do I satisfy the greater than 50% primary business use requirement under the 50% investment allowance? Does driving from home to work classify as business use? Does driving from one office to another office count as business use? How much detail is required in the log book?
Author: Greg Hayes on
12 June 2009
If I buy the asset from overseas is it still applicable for the 50% investment allowance? And if so, can I include the freight?
