If my company wanted to pay me to put its logo on my brand new kites, surfboard etc can the company claim that payment as a tax deduction?
the cost just happens to be about the same price as a new set of kites
ps my company doesnt have anything to do with kiting, but would like to promote itself via the sport
I'm no Tax expert or accountant, or with any type of law or even a degree in anything!
gee to be honest I failed school !!!!
But what the hay go for it and tell them I said it was OK.
oh no this was my 666 post!
Very bad for business, having your company's name on a kite.
Why bother. Setting yourself and your business up for an audit. Double jeopardy!
Are you a 'business' or a 'hobby' of kiting?
I presume your intention is to claim travel costs, fuel, damaged power lines and gear as a tax deduction. If you have no kiting income from sources other than associates (your company) it looks, smells and feels like a tax rort.
As long as you have a day job (the company), you are hard pushed to be a kiting business.
My tip is conduct yourself in a disorderly, random, non commercial manner. Shouldn't be hard for a kiter. Treat kiting as a hobby, enjoy it and don't worry about looking over your shoulder for the tax office. Not looking over the shoulder is natural to a kiter.
If things go well and you attract significant income from unrelated parties, reconsider your status.
Im also self employed and this cuuntry ****ing sucks if you want to work hard and make money and not pay for the doll bludgers!
I say go for it and wait to be audited.
However remember when it comes to the tax man you are GUILTY and have to prove your innocence... Which is disgusting..
so the race cars and yachts with a company sponsored logo do it regularly. e.g. xerox, 7 up, do they just have better accountants? there must be some sort of rules for this.
not thinking of claiming any other costs other than a one off payment for the placement of logos.
ill reword it for a windsurfing set of sails? same question.
Yes you can do this.
But you may have to be involved in competition.
Same as all the companies that pay for spinnakers in the S2H race.....
Not sure how they do it, but I believe an invoice is issued for "advertising"
Claim it as advertising and offer a perpetual trophy or something for a prize in a Kiting association competion or event.
Yes you can do it m step dad used his building business to sponser my Thundercat as I was racing. He could also sponsor if the boat was in a location of advertisement eg autobarn on display, flea markets ect. The tax right off does not make it worth while.
He also got audited both 2 years he sponsored me, lucky we where doing the right thing as I was genuinely racing.
Not worth it imo.
Yes
I know a guy who registered his race car team as non profit sporting organisation or something like that
His business donated a lot of $$$ to it
BUT sounds like a damn fine way for organised crime to launder money - so I'd think it has changed / is changing / has more and more ules all the time so I would seek real advice not the seabreeze experts lol
Almost forgot. Once you have advertisement on your gear they/your company can be held liable for any incidents you have, you will need and must have a form of insurance or governing body which you abide all the rules by as some kind of control measure.
Any possible profits from your form of advertising must be shown in the company's books including increased sales non related to your possible income from your kite/ect as they could be profit from you, they will have to pay GST on all money you make if you win a competition (this one might have changed a little - although I doubt it)
Don't go down this path. If you where really really good and competed (with this sport - international) it might be viable but you are better off going to your kite dealer or wetsuit/surf shop and get some clothing or harness ect if you cover your car in stickers and make go-pro vids??????
Life aint free.
Sounds like a good idea. If you get yourself and the kites filmed and then post the footage on utube or whatever then you are getting your business name out there. To me it would be no different to the richer people who stick their business names on ocean going yachts and then sail them down to Hobart on Boxing Day, when all the top boats are named after brand names.
thanks for the replies.
my accountant looked at me in a strange way also when i mentioned it to her.
"My tip is conduct yourself in a disorderly, random, non commercial manner. Shouldn't be hard for a kiter."
hehe, very funny
hey scoob, ill continue as I have been, its worked so far!
Im looking forward to a windy summer
may need to put on a manager who can sort out these random dealings, so i can go kiting 
