The now common and still growing phenomenon of peer-to-peer goods exchange sites such as Gumtree or Facebook groups can throw up some interesting scenarios regarding the acquisition of claimable assets and the consequent work-related or business expense deduction claims.
In the case of Gumtree, for example, the online buy-and-sell site has enjoyed increasing usage since it launched in 2007, and has seen a huge expansion of the range of items listed on its pages beyond the proverbial spare bookcase or cheap bicycle.
As you may have already guessed, acquiring business assets through such sites can be not so much an issue with the deductibility of work-related expenses, but rather what may or may not be accepted by the ATO in regard to substantiation. Readmore
