Re: [SLUG] tax, damn them

[DaZZa <dazza@nospam.zip.com.au>]

On Thu, 1 Jun 2000, Rick Welykochy wrote:

> > They will. Buy a new computer now, and then it's a total tax deduction -
> > provided you buy it before june 30.
> 
> What, you cannot depreciate computer equipment in the
> New Improved Tax System?

Of course you can. This is a once off, special offer which applies until
June 30 ONLY this year. Buy a new computer and software whose ostensible
purposes are _specifically to meet GST paperwork requirements_, and you
can depreciate/deduct it IN TOTAL this year.

In other words, no need to depreciate - get the full deduction, full
purchase price.

> > Mind you, a tax _deduction_ doesn't cover the cost of the machine - at
> > beast it half covers it - but it's better than nothing.
> 
> Currently, you can depreciate your computer equipment at 33%/year
> for three years. I doubt this will change, but, as in the words of
> a GST guru:

I don't need reminding, thanks. I've been doing it on various pieces of
gear for 10 years.

> "Remember, this is new tax legislation. YOU CANNOT USE LOGIC"

That can be shortened. "This is tax. You can't use logic".

DaZZa

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