Is this Tax Deductible?

Discussion in 'Accounting & Tax' started by fullylucky, 1st Mar, 2016.

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  1. Scott No Mates

    Scott No Mates Well-Known Member

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    No need for an ABN but you will need 100 points of ID.
     
    Scott No Mates, 1st Mar, 2016
    #21
  2. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Unless you are a security person (etc) lawfully possessing the weapon the cost of a gun is non-deductible and not depreciable. And likely not a creditable acquisition for GST etc

    s8-1 ITAA97 contain the nexus to assessable income. The cost must be incurred in producing assessable income. No income = no deductions.
     
    Paul@PAS, 2nd Mar, 2016
    #22
  3. D.T.

    D.T. Specialist Property Manager Business Member

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    Not sure if you noticed we were joking about a certain Adelaide suburb where landlords might need weapons
     
    D.T., 2nd Mar, 2016
    #23
  4. 158

    158 Well-Known Member

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    Explanation here @D.T. :p

    Save tax!


    pinkboy
     
    158, 2nd Mar, 2016
    #24
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