Can You Claim This On Tax? Rolex, LV Bags, Lunches & More

Can you claim a Louis Vuitton bag on tax? What about a Rolex, client lunch, staff gift, RM Williams boots, or a new phone?Cat and Jacob unpack some of the most misunderstood tax deductions business owners and individuals ask about.They cover luxury items, entertainment, client gifts, staff gifts, work clothes, technology, ATO red flags, GST refund audits, payment plans, penalty remissions, and why clean records matter more than ever.The big question is simple, what can you actually claim, and what could get you flagged?Need an accountant or just want to chat about your business?GET A FREE CONSULTATION FOR ALL ABN HOLDERS 👉 https://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzwCHAPTERS0:00 Can you claim a Louis Vuitton bag?0:36 Is entertainment tax deductible?1:15 Business lunches and travel meals2:18 Why client lunches are usually not deductible3:37 Client gifts and tax deductions4:16 Staff gifts and the $300 rule5:08 Can you claim a Rolex?6:13 Are RM Williams boots tax deductible?7:21 Claiming phones, iPads and technology7:53 Will the ATO know what you claimed?8:48 GST refund audits and ATO scrutiny9:18 Why GST refunds are being reviewed closely10:09 What happens during an ATO audit?11:18 Refinancing ATO debt and payment plans12:54 When the ATO gets it wrong13:40 Primary production averaging issue14:30 ATO wait times and service standards15:26 Penalty and interest remission17:58 Why written ATO requests are frustratingStop guessing with your taxes. Whether you are a sole trader or a company, let’s get your strategy sorted before the ATO sends that scary letter.OUR SERVICES 👉 https://latitudeaccountants.com.au/accounting-services/For any business enquiries, reach out to: [email protected] usTikTok: https://www.tiktok.com/@latitudeaccountantsInstagram: https://www.instagram.com/latitudeaccountantsWebsite: https://latitudeaccountants.com.au/Disclaimer: This video is for general information and entertainment purposes only. It does not constitute formal accounting, tax, business or financial advice. Please speak to your accountant about your specific circumstances.