Can Domain Purchases Be Depreciated By Businesses?

[Chris.C]

So lots of SMEs would have been happy with last nights budget.

One of the more popular items was being about to instantly depreciate assets up to $20,000 as a tax write off.

Which got me thinking, would this apply to domain names?

Could be quite a nice selling point if it does.

 

[eBranding.com.au]

Nice thought, but I very much doubt it!
https://www.ato.gov.au/Business/Cap.../Guide-to-depreciating-assets-2012-13/?page=7
I think the key problem would be demonstrating a decrease in the value of the asset over time.

 

[Cooper Mills DomainLawyer]

So lots of SMEs would have been happy with last nights budget.

One of the more popular items was being about to instantly depreciate assets up to $20,000 as a tax write off.

Which got me thinking, would this apply to domain names?

Could be quite a nice selling point if it does.

That is a great question, particularly because domains can be capital assets. Any accountants on DnTrade ? Otherwise I will see if I can get an answer to the question

 

[scurve]

If you are buying and selling domains regularly, they can be considered stock, which has always meant 100% expense.

I had the same situation was I was a day trader on the stock market.

 

[helloworld]

I recall a guest on domain sherpa mentioned he started in investing in domains as way to park his money without it being taxed...

 

[FirstPageResults]

I have asked my accountant about this already. Will report back what he says

 

[snoopy]

I think the key problem would be demonstrating a decrease in the value of the asset over time.

Think I have some examples.