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Do second-hand purchases count towards expenditure?

Posted 23 February 2017

Harrie says:
16 February 2017 at 11:40

Can I purchase 2nd hand equipment as an asset for my business and then add that full amount to my business costs? The item will come in under R7000, so I believe I can write the depreciation off within one tax year.

TaxTim TaxTim says:
23 February 2017 at 10:08

Yes, that is correct - low value assets less than R7,000 can be written-off in full in the year of purchase. This will also apply to to the purchase price you paid for the second hand goods.

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