Buying a DSLR to use at work,will I get any tax back?

[vanesssaak]

I just wanted to know if anyone has purchased as a business owner or educator.We're doing a DIY website for our childcare centre and figured that in the long run I'd be better off purchasing the camera, rather than paying a professional photographer to do it for us (used to photograph jewellery some time ago so know the gist of things) We also need to upkeep the blog so I'd prefer no bodgy photos.

I have spoken to my accountant but forgot to mention that it's not a $100 digital camera but somewhere in the means of about $650

I'd prefer it be kept under wraps and put through my personal account, not the business one, so the director (my poor dad) doesn't see how much I've spent on this thing

[linsaa fdc]

Hi Vanesssaak,
If your accountant said you are able to claim it as a deduction it shouldn't matter how much it cost.
If you use it for personal use as well though you might have to claim a percentage of the cost.
Linsaa fdc

[Lorina]

Hi Vanesssaak,

It's probably better for you to add the DSLR purchase in the business tax return. If this is purchased for the purpose of work and used for work, it will be considered as an asset. Usually you would be able to claim the depreciation value of the assets over the next 5 years or so and there is a formula to work it out. You can use the calculator available in ATO website for it or leave it for your tax accountant to figure it out. However, if you want to claim it from your personal tax return instead of the business tax, it might be possible if it's directly related to your work. But it's better to talk to your accountant about it since it is a high purchase for claiming off personal tax.

Please note, I am not an accountant so I could be wrong. But this is what I think from what I learnt from lodging my taxes. Either ways your accountant should be able to advise you the best option. Let me know when you find out more as I will be interested to know too.

,
Lorina