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50% tax break for an espresso machine?

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  • #16
    Re: 50% tax break for an espresso machine?

    I am an accountant but not a tax specialist, and this should not be considered TAX advice ok, but based on general accounting practice the following may apply. You need to confirm with your tax specialist prior to purchase for your business.

    You could (and should) consider any items purchased over $1000 for use in your business as an ASSET, it would normally placed on your asset register and depreciated each year. (items under 1k are generally just 100% written off that year)

    So based on that if they meet the eligibility then "YES" you could use this 50% tax thing. either way you still write them off over time if they are a business purchase.

    IF you are asking can the new machine and grinder I buy for my " work from home business" well its more of a "NO". But if your work from home business has STAFF and CLIENTS coming to your house then there may be some "YES you can" as well.....

    The ATO is not going to allow you to write off the full value of a coffee machine you have at home, but if its purchased for your office and is at work well then yes you can. (if it meets the eligibility they ask for).


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    • #17
      Re: 50% tax break for an espresso machine?

      Thanks Maheel,

      Im really just looking to see if it is an avenue worth pursuing, sounds like it is 8-)

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      • #18
        Re: 50% tax break for an espresso machine?

        Youd best be quick as the asset has to be purchased by 30 Dec 2009 I think.

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        • #19
          Re: 50% tax break for an espresso machine?

          Paid for by then and installed by end of next year.

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