I’ve seen a few mentions of people claiming internet access as a tax deduction because they look for properties on it. My question is what do you need to do to claim this. Do you have to register a business name? Do you have to have an IP, (I havn’t bought one yet but am looking and use the internet as one way of searching)? Can you claim for a high speed connection or only a dial up? I appreciate any enlightenement on this subject.
Hi there,
I claim dial up and broadband – no difference to my accountant.
All my claims PRIOR to the purchase of the IP have been considered capital costs because I didn’t actually have an IP to claim against. My accountant will claim these against any capital gain when I sell.
All internet access now I have two IPs is tax deductible. (Remember that to legally claim 100% of ISP access, you can’t use it for anything else)
That’s my accountant’s take any way – other thoughts that vary?[?]
LR
You can claim anything that is an expense related to your current earnings. If you have not IP you technically cannot claim it, but can it relate to your current job in anyway? You don’t need a business name either.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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