Loading
This thread is archived and the information may not be up-to-date. You can't reply to this thread.
akkeri(Newbie)Newbie
27 Dec 2021

Hi everyone, I'd be very grateful for some advice. I am a sole trader and I operate a business within the media industry which includes a significant amount of work in the visual arts sector. Recently, I purchased a painting on the secondary market for my office. Can I claim this as a business expense on my BAS and therefore deduct the GST from my bill? And could I potentially buy a second painting and do the same thing? What conditions/limits would there be?

1,308 views
1 replies
1,308 views
1 replies

Most helpful response

Most helpful reply

RichATO(Community Support)Community Support
1 Jan 2022

Hi @akkeri


Art works are considered to be assets and so as a small business the temporary expensing measures can apply to these purchases.

I'd recommend seeking professional advice about your specific circumstances to determine exactly how much you can deduct for these purchases.

There needs to be a clear link between their value as assets and your business income


All replies

Most helpful reply

RichATO(Community Support)Community Support
1 Jan 2022

Hi @akkeri


Art works are considered to be assets and so as a small business the temporary expensing measures can apply to these purchases.

I'd recommend seeking professional advice about your specific circumstances to determine exactly how much you can deduct for these purchases.

There needs to be a clear link between their value as assets and your business income


Featured articles

When you need to register for GST

15 Apr 2026 · 4 min read time

Tax tips for managing your side hustle

22 Apr 2024 · 6 min read time

Working for a food delivery app

15 Apr 2026 · 4 min read time

Top liked users

  1. Taxduck

    (Taxicorn)

    341 likes

  2. PayrollDeanne

    (Taxicorn)

    331 likes

  3. Bruce4Tax

    (Taxicorn)

    192 likes

  4. YellowPotato

    (Taxicorn)

    151 likes

  5. Peter_Clyne

    (Superuser)

    101 likes

Top contributors

  1. PayrollDeanne

    (Taxicorn)

    1350contributions

  2. Taxduck

    (Taxicorn)

    1333contributions

  3. YellowPotato

    (Taxicorn)

    593contributions

  4. Bruce4Tax

    (Taxicorn)

    526contributions

  5. YEP

    (Devotee)

    280contributions

Loading
Can I use the GST from a business-related art purchase as a credit on my BAS? | ATO Community