All Topics / Legal & Accounting / Wrap Kit tax deductable?

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  • Profile photo of banderosbanderos
    Participant
    @banderos
    Join Date: 2004
    Post Count: 46
    May 10, 2004 - 5:03 am

    Hi,
    I have a few small properties all in my personal name. How would it be possible to purchase the wrap kit as a tax deductable expense (legally of course)?
    thanks,
    Ben

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    May 10, 2004 - 6:13 am

    If you are using them to produce taxable income them should be deductible.

    Cheers,

    Simon Macks
    Mortgage Broker
    http://www.mortgagehunter.com.au
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of banderosbanderos
    Participant
    @banderos
    Join Date: 2004
    Post Count: 46
    May 11, 2004 - 10:23 am

    Right, so buying as an education tool prior to putting into action would not be deducatable as per education expenses?

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