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Tax deduction for GPS device

Discussion in 'Accounting, Tax & Legal' started by jrc77, 24th Dec, 2008.

  1. jrc77

    jrc77 Well-Known Member

    Joined:
    26th May, 2008
    Posts:
    147
    All,

    I am a consultant working at multiple different sites throughout a normal week (typically I would do work from home in the morning, then work at one site per day - but sometimes do multiple sites in a day). If I buy a GPS device to make it easier to sites, can I use this as a deduction on my personal tax return?

    Regards,

    Jason
     
  2. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi JRC,

    When you do your tax return you may find that items over $300 are to be depreciated over the useful lifetime rather than being treated as an expense.

    You'll have to check the ATO website for more information.

    Cheers,

    Dan

    PS This is general information. Speak to your accountant or tax adviser before making a decision.
     
  3. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    JRC

    It's a good business tool and particularly of you visit new sites all the time.
    If you buy a good one it will be over $300 and as Dan says you'd have to depreciate it...