Where else would one ask a tax question eh? I think this is a great example of how simple out fn tax system is (or how poor my googling is).
I want to buy a chair for my home office. It will be used by me for work porpoises 99% of the time. It is ridiculously expensive but I figure it'll last 10+ years (warranty is 12) and it's important to have a good chair if I'm going to sit in it 12 hours sometimes.
I recall some recent something about being able to claim an office expense as a straight up deduction rather than having to depreciate it, but I was probably distracted by a pretty girl or something at the time.
Can I straight up deduct this chair?
Because you're curious I figure if it lasts 10 years then it's $5/week for the duck's nuts custom one, or $3.50/week for any colour you want as long as it's black one. Before any deductions. It's a coffee or two. I think it's cheap.
Select to expand quoteevlPanda said..
Where else would one ask a tax question eh? I think this is a great example of how simple out fn tax system is (or how poor my googling is). I want to buy a chair for my home office. It will be used by me for work porpoises 99% of the time. It is ridiculously expensive but I figure it'll last 10+ years (warranty is 12) and it's important to have a good chair if I'm going to sit in it 12 hours sometimes. I recall some recent something about being able to claim an office expense as a straight up deduction rather than having to depreciate it, but I was probably distracted by a pretty girl or something at the time. Can I straight up deduct this chair? Because you're curious I figure if it lasts 10 years then it's $5/week for the duck's nuts custom one, or $3.50/week for any colour you want as long as it's black one. Before any deductions. It's a coffee or two. I think it's cheap.
i say claim but if its over a certain amount then you have to depreciate. just say its at yr home office and you never sit in it except for work so 100% of the time. (when we all know you spend heaps of time on seabreeze) but an accountanct will step in surely
As long as it's under 20k you can write it off, if it's over that you depreciate it as normal and when it's value is down to 20k in the coming years you can then write it off.
^^ Is that the deal still?
I think that was last year, but not sure if the threshold is still $20K or back to $1K .
On a side note I still can't believe how many fell for the scheme thinking it was the equivalent of a $20k rebate, I guess they are finding out about now.
If you are a salary and wage earner if the value is over $300 must be depreciated. If you are a small business and you turn over less the $2 mil you can use the $20k immediate write off available till June 2017. Sorry wife's an accountant , I've got no idea 
Chef misses is on the money. Don't spend more that 20k on that chair tho. Once an item is >20k you can't have a 100% deduction.
My boss blasted me for trying to purchase a forklift in 3 parts.
