sungazer wrote:The firearm like most tools could only be depreciated but the ammo could be claimed as it is a consumable.
Ziad wrote:You get a refund on the GST, and the rest depends according to your tax rate..... in essence if you paying 30% tax a $2200 gun will cost you $1400.
Ziad wrote:If you have an abn are a small business and use the firearm as a tool of your work and drive an income, you can for sure. If you are in primary production I reckon you could atleast claim one firearm. Ammo is consumable so can be claimed.
You get a refund on the GST, and the rest depends according to your tax rate..... in essence if you paying 30% tax a $2200 gun will cost you $1400.
Ohh the normal disclaimer..I am not a registered tax agent, whatever I say it it as general advice, do not base your decision on what I say in this party. Please speak to a registered tax agent for most authoritative advice
NUTSACK wrote:Has anyone claimed or have any info on claiming the cost of purchasing rifles and ammo etc on tax?
I'm in the process of getting my Category D license with the purpose of Vertebrate Pest Animal Control (contracting) and if i'm successful and purchase a new rifle i was wandering if i can claim it on my tax as it would be a tool of the trade and also depreciate in value..
I'm aware it would be best to speak with an accountant or tax specialist but thought someone might know something or had some general info..
Thanks
NUTSACK wrote:I’ve claimed gst back on rifles and ammo as a primary producer, accountant okay’d it after I explained biosecurity obligations and feral pest management plan in place. Haven’t bothered with depreciation.
On a side note, did you manage to do the updated vertebrate pest management course or the superseded course? Been Trapping wild dogs for a while now on my and neighbours properties and think it may be a viable option for a bit of off farm income in the local area once I have sussed out the insurance and licensing side of things.
Cheers
duncan61 wrote:Then it is depreciated as an company asset.All costs related to what you are doing are claimable.If your activities fail to make a positive financial outcome your activity may come under scrutiny. I made about $5000/annum shooting after expenses and have all my firearms paid for through the culling business I was taking part in.