GST info
We’ve just bought a second hand tractor and I’m confused with whether we can claim against the tractor. I’ve been told it’s a capital purchase so we can’t. Is that correct? Thanks
I’ve never heard of the capital purchase rule. I’m not an accountant but depending on your business structure you should be able to claim the gst as long as the seller charged gst. Either way you might be able to claim it as a business expense. Would recommend chatting to an accountant - might pay for itself
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