@twobrokechicks_: Disclaimer: THIS IS NOT FINANCIAL ADVICE. Please see the ATO website for more information and speak to a professional financial advisor or accountant if unsure. Here’s an example from the ATO on how it works 👇 “Elizabeth buys a handbag for $150 to carry her tablet and work diary between appointments with clients. She only uses the handbag to carry the work items and she carries another bag for her personal items. She does not use the handbag that carries her tablet outside of work hours. Elizabeth can claim a deduction for the cost of the handbag she uses to carry the work items. As the handbag costs less than $300 and is used 100% for work purposes, she can claim an immediate deduction for the full purchase price“. This applies to eligible bags and cases used for work including a briefcase, laptop bag, satchel, luggage & a handbag in some circumstances. You can claim an immediate deduction for items that cost $300 or less, if you use them more than 50% of the time for a work purpose. If your work handbag is worth $300 or more, you can claim a deduction for the decline in value over the effective life of the item. Disclaimer: THIS IS NOT FINANCIAL ADVICE. Please see the ATO website for more information and speak to a professional financial advisor or accountant if unsure. #twobrokechicks #taxtime #eofy #handbaghack #everydayhandbag #workbag #moneytips

Sal & Al • TWO BROKE CHICKS

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Region: AU

Monday 10 June 2024 22:48:43 GMT