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Re: Claiming the cost of a trailer

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Newbie

Views 812

Replies 4

Can I claim the cost of a trailer used specifically for regular rubbish removal (specifically green waste) and if so would this be claimed as a depreciating asset or the cost of the trailer in the current tax year?

1 ACCEPTED SOLUTION

Accepted Solutions
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Best answer

Community Manager

Replies 0

Hi @Robert,


Thanks for your question.


If you are claiming a deduction for using the trailer to remove rubbish after a tenant has left, you would need to apportion the depreciation of the trailer between investment use and private use. You would be required to substantiate the rubbish removal from that property.


If you used the trailer to remove rubbish whilst the property was tenanted, you would need to provide evidence, in the form of the rental contract that this was your responsibility not the tenants.


Check out the Rental properties guide & Guide to depreciation.


Thanks
KylieS

4 REPLIES 4
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Champion

Replies 2

Hi @R0bert 

 

Is the trailer being purchased by a business? If not then no.

If yes, then it may be dependent on the kind of business purchasing the trailer and then possibly a personal/business use split.

 

If you can claim the cost of the trailer you would be able to either depreciate or write-off depending on other details, such as business turnover, cost of trailer, etc etc.

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Newbie

Replies 1

Not as a business.. Used to use a ute for the green waste removal at a rental invenstment property but after discarding the ute have purchased a trailer to use with the new car. 

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Community Support

Replies 0

Hi @R0bert,

 

Welcome to our Community!

 

We're checking some further information about your query with a specialist area and we'll get back to you with more information as soon as we can.

 

Thanks, JodieH.

Highlighted

Best answer

Community Manager

Replies 0

Hi @Robert,


Thanks for your question.


If you are claiming a deduction for using the trailer to remove rubbish after a tenant has left, you would need to apportion the depreciation of the trailer between investment use and private use. You would be required to substantiate the rubbish removal from that property.


If you used the trailer to remove rubbish whilst the property was tenanted, you would need to provide evidence, in the form of the rental contract that this was your responsibility not the tenants.


Check out the Rental properties guide & Guide to depreciation.


Thanks
KylieS