I started sole trading a few months ago and i need to buy a fibreglass canopy for my ute to keep my tools safe.
just wondering if it would be tax deductible
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That is a depn asset, so claim at the same % as the ute.
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Hi @robbmcculloch,
The ATO site says these are the types of expenses you can claim:
- fuel and oil
- repairs and servicing
- interest on a motor vehicle loan
- lease payments
- insurance cover premiums
- registration
- depreciation (decline in value).
It doesn't look like accessories like canopies count. Might be worth a read of this page as there are a few rules around what you can claim, and the percentages you can claim based on personal use.
That is a depn asset, so claim at the same % as the ute.
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