[quote name='jakesbass' post='471423' date='Apr 24 2009, 12:35 PM']I'm also self employed and if I were to buy them they would not be capital with a WDA (writing down allowance or percentage claim) I would claim the full amount as an expense.
Also FWIW instruments are not tax deductable in the sense in which I think you mean (correct me if I'm wrong), tax deductable as expenditure is what you spend in operating the business (i.e strings fuel costs office etc etc). Your instruments are capital investements and you are allowed 40% of their value in the year of purchase and 25% on the diminishing value in subsequent years. Thats how I understand it, the two things are in separate places on the tax return although it's arguable that it's all tax deductable[/quote]
I figured that they would be an expense. Obv, I will clarify this with an accountant, but it is good to get a feel of things. Obv this is the wrong side of the tax year
The instruments as capital invesments is what I should have said - that is how I do that.
Thanks.