Hi, I have strated my business last November 2023 and build a shed and bur a car under my business. Can I claim the shed and car for tax refund? My accountant said that I can only claim only the GST of business expense.
You can only claim GST credits off business expenses. See when you can claim a GST credit
When you can claim a GST credit | Australian Taxation Office (ato.gov.au)
If the shed isn't ready for use yet (i.e it is being built but not finished) then you can't yet claim the shed but you would be able to claim GST credits on the construction costs.
Can't comment on the car
You can only claim GST credits off business expenses. See when you can claim a GST credit
When you can claim a GST credit | Australian Taxation Office (ato.gov.au)
If the shed isn't ready for use yet (i.e it is being built but not finished) then you can't yet claim the shed but you would be able to claim GST credits on the construction costs.
Can't comment on the car
Hi taxduck, thank you for your response, really appreciated. The shed was already finished and we already used it for last december 2023 up until now. Can I claim it for tax? And what about the car which is under business loan too.
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