Loading...

Online business – claim your camera as a tax deduction

April 27th, 2013

 

19563172_s

Online business – claim your camera as a tax deduction

Gone are the days where you copy a photo off the Internet and use it on your blog without the owner knocking on your door asking for compensation.  So the solution?  Take your own photos!

From 1 July 2012 eligible small business owners can now claim an immediate deduction for assets costing less than $6,500.  If you have purchased a camera to use as a marketing tool to take photos for your blog articles and website, then you can now claim the cost up to $6,500 as an outright deduction in the year you purchase it.

Remember that if you’re using the camera for personal as well as business, then you will need to apportion your claim between business and private.

So for all those multi skilled entrepreneurs out there who have a knack for taking photos as well as building an online business.  Start snapping and save some serious dollars come this tax time.  As for the rest of us, you will be happy to know that any photos you purchase from a photographer to place on your website are also a tax deduction.

 

Did you like this article?  Why not download our free book!

 

tax tips 3

10 Tax Tips and Strategies for Running a Business and working at the same time     

This tax book includes information on:

                • contributing to super
                • Motor Vehicle Travel
                • Putting money aside to pay taxes
                • Splitting home office expenses
                • are you a hobby or a business?
                • asset protection
                • GST
                • Income Protection
                • Which software should you use?
 
 
This information, facts, insights and ideas (“Content”) are for general informational purposes only and nothing contained in it is or is intended to be, construed as advice. It does not take into account your individual objectives, financial situation or needs. It should not be used, relied upon or treated as a substitute for specific or professional advice. You should, before you act or use any of this Content, consider the appropriateness of this information having regard to your own personal objectives, financial situation and needs. It should not be your only source of information but should be treated as a guide only. You should obtain your own independent professional advice before making any decision based on this information.  In no event will we be liable for any loss or damage including and without limitation, indirect or consequential loss or damage, or any loss or damage howsoever arising from, out of, or in connection with the use of this Content.

Comments

comments