50% Tax Break. Specific questions?

Discussion in 'Accounting & Tax' started by shouldisell, 30th Dec, 2009.

Join Australia's most dynamic and respected property investment community
  1. shouldisell

    shouldisell Well-Known Member

    Joined:
    16th Jun, 2019
    Posts:
    348
    Location:
    melbourne
    From the ATO web site:

    How does one 'commit' to this investment?
    I fully intended to purchase a new laptop before the 31st, however this morning they had run out of stock (I have a friend who is getting me a discount, which is why I didn't just look elsewhere).

    I couldn't pay in advance, as they need to scan the serial number of the computer in order to process the receipt.

    Is there anything else I can do to remain eligible for this 'investment allowance'?
     
  2. Intellikev

    Intellikev Active Member

    Joined:
    1st Jul, 2015
    Posts:
    25
    Location:
    Brisbane Qld
    50% Tax Break

    I would suggest you complete a purchase order for the computer which indicates its make and model. I would include a requirement that you to pay a non-refundable deposit of say 10%.

    This then proves intent and commitment.

    I am sure this will satisfy the ATO however I would suggest you run it by your Accountant first.
     
  3. shouldisell

    shouldisell Well-Known Member

    Joined:
    16th Jun, 2019
    Posts:
    348
    Location:
    melbourne
    Thanks for the reply.

    Turns out I couldn't wait and bought one elsewhere. Got a better deal on it too :)
     
  4. Superman__

    Superman__ Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    350
    Location:
    Gold Coast, QLD
    Always pay to shop around ;)

    Purchase order + deposit or signing of a contract is enough to commit to the buy.

    I am tempted to go out and sign a purchase contract for a Mitsi GXLR Triton today for my partners marketing business - but I am not sure if she would be happy with me doing so! :cool: