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buying a phone for company use

Newbie

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Replies 1

Hi

the company director bought a phone for $1000 under his name, but this phone is 100% for company business use.

how do we deduct the phone expenses? can we deduct it as company expense or we have to deduct it from his personal tax return ?

thanks

 

1 ACCEPTED SOLUTION

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ATO Certified Response

ATO Community Support

Replies 0

Hello @Helen6

 

If the director paid for the phone using their own money, they need to claim the deduction in their individual tax return, unless the company has reimbursed them. If the company has reimbursed the director, the company can claim a deduction.

 

You can find more information below:

 

Regards,

 

Tony

 

1 REPLY 1

Most helpful response

ATO Certified Response

ATO Community Support

Replies 0

Hello @Helen6

 

If the director paid for the phone using their own money, they need to claim the deduction in their individual tax return, unless the company has reimbursed them. If the company has reimbursed the director, the company can claim a deduction.

 

You can find more information below:

 

Regards,

 

Tony