Re: [SLUG] tax, damn them

[Terry Collins <terryc@nospam.woa.com.au>]

DaZZa wrote:
> 
> On Thu, 1 Jun 2000, David wrote:
> 
> > I got my nice shiny new CD from Mr. Costello today
> >
> > "How to keep your business records"
> >
> > Naturally, you need to support the gates hegemony to use it. No option is
> > supplied. No unix, no mac, nothing. I wonder if they will pay for a
> > computer for me to run it?
> 
> They will. Buy a new computer now, and then it's a total tax deduction -
> provided you buy it before june 30.

I understand that this means it is an expense for this year, rather
than being an asset to be depreciated over a number of years (2+)
> 
> 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.

A tax deduction means that it is a business expenses that can be taken
before you arrive at the figure you pay tax on, rather than after
paying tax. E.G. business use of a vehicle is tax deductable, but
using the train to visit customers is not tax deductable (according to
my accountant).



--
   Terry Collins {:-)}}} Ph(02) 4627 2186 Fax(02) 4628 7861  
   email: terryc@nospam.woa.com.au  www: http://www.woa.com.au  
       or terryc@nospam.zip.net.au 
   WOA Computer Services <lan/wan, linux/unix, novell>
   snail:  PO Box 1047, Campbelltown, NSW 2560.

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