Tax Reduction with Laptop (Tax Claim Possibility?)

Lqkdwksha on 24/06/2019 - 17:04

Hi guys,

Financial year end is approaching and I am thinking of getting a laptop with some promotions going on.

However, I only left work in Mar 2019 and opened up an ABN as a self contractor, starting earning little bit not much thou.

To make the best from tax claim in few days time, if I get a laptop say around $1000, how much $ reduction can I get?

I know I will need to put it for 4 years and make tax claim of $250 for next 4 years? Will this work in favor towards my tax return to get me $250?

Apparently, I earend over 90k until March and made over 1k as an independent contract. I paid ATO about 25k from 90k due to big bonus..

Although I havent earned mcuh, I found out the depreciation can be offset as part of my income for this year.

pls correct me if I am wrong as I need to fight hard for a single $…

Thanks guys in advance :)

Comments

Tech5 on 24/06/2019 - 17:07

If you have an ABN, you can do an immediate deduction worth the entirety of the laptop, so $1000.

How much you can claim depends on how much you use the laptop for work. If 100%, 1000. If 50%, 500. If 0%, 0. You need to be able to back it up if called on by using a logbook

Also, you don't "get" $250. It reduces your income by $250. So you don't need to pay tax on that $250
whooah1979 on 24/06/2019 - 17:15

I get a laptop say around $1000, how much $ reduction can I get?

You may claim an instant 100% write-off.
- [Deactivated] on 24/06/2019 - 17:43
  
  +3
  
  As long as the laptop is under $30k
  - Gerry H on 25/06/2019 - 11:30
    
    link to $30k+ laptop
    - [Deactivated] on 25/06/2019 - 12:20
      
      +2
      
      apple.com.au
      - Gerry H on 25/06/2019 - 12:29
        
        @[Deactivated]: ah ofc, forgot about apple, was wondering how 30k laptops existed.
Blue Cat on 24/06/2019 - 18:24

You have to tell us what your job on ABN is, which tax bracket are you in and how much will the laptop cost?
Tax brackets can be found here: https://www.ato.gov.au/Rates/Individual-income-tax-rates/