Tax

[forestboy1978]

Not paying a huge amount of tax this year due to spending a lot on my business. However, I'm seriously considering pulling the trigger on another 50k worth of capital expenditure. 

 

Will this carry on to next year so I wont pay tax then either, or at least very little. Or will it just cancel out all tax for this year and come April next year I start at zero again regarding profit?

 

Thanks

[Mick Dempsey]

I think it’s spread over 5 years. 

[donnk]

losses carry forward yes

[Mick Dempsey]

Hey, don’t believe me, that’s what happens here, could be different back home, it’s been a while.

[forestboy1978]

57 minutes ago, Mick Dempsey said:

Hey, don’t believe me, that’s what happens here, could be different back home, it’s been a while.

You're statement matches my research. Thanks

 

 

[forestboy1978]

i'm 50/50 on buying this

 

[Mick Dempsey]

Certainly looks nice.

[forestboy1978]

Just now, Mick Dempsey said:

Certainly looks nice.

Yeah perhaps too nice....

 

Mrs is talking me out of it. Reckons to wait 6 months. I'm booked till winter though already so I'm sooo damn tempted. My second vehicle is a smart car lol. I get bullied!!

[Rough Hewn]

My first thought was ooooh beefy!
My second was depreciation from 50k?
10-20k gets you a good vehicle with custom spec.
And 30k still in your pocket.
[emoji848][emoji12]

[forestboy1978]

Just now, Rough Hewn said:

My first thought was ooooh beefy!
My second was depreciation from 50k?
10-20k gets you a good vehicle with custom spec.
And 30k still in your pocket.

it's a year old with 6k on the mileage. No work done on it. 30k

 

God it's sexy though. Auto too 3.2 litre