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| Thread ID: 98297 | 2009-03-19 05:29:00 | Tax deductible expenses - is it really like this? | rixth (9629) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 757752 | 2009-03-19 08:29:00 | You can't deduct the full cost of the laptop - only a percentage. Deduct say $1000, leaves you with $46,000 = tax $10,050.00 according to IRD. www.ird.govt.nz | Winston001 (3612) | ||
| 757753 | 2009-03-19 09:02:00 | www.ird.govt.nz | andrew93 (249) | ||
| 757754 | 2009-03-19 10:20:00 | I think the GST threshhold was raised to 60K recently - but it's worth registering anyway.... It really pays to do your homework to find out if it is worth registering. I looked at it years ago and would have only made about $200 by doing so and so decided with all the extra book work etc that it wasn't worth it. |
mikebartnz (21) | ||
| 757755 | 2009-03-19 18:39:00 | I think the GST threshhold was raised to 60K recently - but it's worth registering anyway.... $50,000 on April 1 2009. Worth registering? Hell no, not if you don't have to. |
pctek (84) | ||
| 757756 | 2009-03-19 21:11:00 | You can't deduct the full cost of the laptop - only a percentage. Deduct say $1000, leaves you with $46,000 = tax $10,050.00 according to IRD. www.ird.govt.nz I'm pretty sure you can write off depreciation for the FULL amount of the laptop provided it is used ONLY for business purposes. I'm not sure what the depreciation rate for computer hardware is, I think it was 33% or 30% per year. |
utopian201 (6245) | ||
| 757757 | 2009-03-19 23:28:00 | You should really talk to an accountant. I think that if you work from home you can also claim part of your house as an office (has to be a minimum % of house used as an office I think), percentage of phone, power, etc.... |
ManUFan (7602) | ||
| 757758 | 2009-03-20 00:43:00 | I'm pretty sure you can write off depreciation for the FULL amount of the laptop provided it is used ONLY for business purposes. I'm not sure what the depreciation rate for computer hardware is, I think it was 33% or 30% per year. Ah - just for clarity, I meant "say $1000" for the first year. Longer-term the whole cost should be deductable. Anyway I'm no accountant - 'tis a dark and most terrible art:help: .....so Andrew is your man. :clap |
Winston001 (3612) | ||
| 757759 | 2009-03-20 01:39:00 | Well I retired from the profession a few years back (not through age, just through boredom) but the rules haven't changed. As has been stated you get to claim depreciation on business assets. So yes you get to claim back the cost, but it is spread over a number of tax years. | andrew93 (249) | ||
| 757760 | 2009-03-20 01:46:00 | Aren't the revenoo'ers likely to consider that your work copy of Vista just simply can't get any worse? :badpc: :lol: | Greg (193) | ||
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