Worried you’re missing part of your refund? Remember, the low and middle income tax offset isn’t a refund on its own – it’s used to offset (or reduce) the amount of tax you pay. The offset amount you may be entitled to is automatically applied and could range between $255-$1080, depending on things like your taxable income and how much tax you’ve paid.
Purchased laptop for work as an employee and the employer paid $100 per month as an allowance towards it. After 3 months became redundant and have commenced sole trader business whereby the laptop is the main equipment for my self employment work. Is there any provision to claim a tax deduction on the purchase of this laptop even though it was bought 3 months before self employment began ? Thanks for your advice