Beauty & Style Wrist Watch lovers

[Power Raid]

Just saw this on the net and the wife is away

accidental purchase coming up!

 

[outabounds]

Since we are slipping into the unobtainable, here is my dream watch, the Patek Phillipe 5960. there is one on Ebay for $75,000 at the moment.

 

[Power Raid]

Since we are slipping into the unobtainable, here is my dream watch, the Patek Phillipe 5960. there is one on Ebay for $75,000 at the moment.

hold off until you can put it through a business or when you tax rate is ~50%. It doesn't feel quite as expensive then.

Also when you buy these things you can usually get 30-40% off.

So a $100k watch could cost as little as $10k.

 

[Juddism]

funnily enough my client today was none other than avid watch collector, John Mayer.

 

[Schism]

Some of the more recent additions to the collection (dunno if this pic will scale down, i hope so)

Well the Breitling i've had for a while and is my day to day, the rest are pretty recent. Thinking about a diamond bezel and stainless/diamond band for the Curtis & Co. That Tag Formula 1 with the diamonds and black ceramic really looks good on the wrist.

edit: the black one is a raymond weil freelancer, obviously the bottom one is a rolex datejust

 

[JohnW]

hold off until you can put it through a business or when you tax rate is ~50%. It doesn't feel quite as expensive then.

Also when you buy these things you can usually get 30-40% off.

So a $100k watch could cost as little as $10k.

How do you write a watch of for business? I would like to do this, but want a better understanding before talking to the accountant.

 

[Caesar]

You don't.

 

[Power Raid]

How do you write a watch of for business? I would like to do this, but want a better understanding before talking to the accountant.

each individuals tax affairs are different but it is no different to the deduct-ability of a stop watch for the olympics. I require a watch for work and it is not used for personal use.

I am also governed by the tax laws of Singapore (for this deduction) not Australia but it would be no different.

 

[DrKrieger]

Some jobs are able to claim a timepiece as a deduction, commercial pilots are one that I can think of off the top of my head. My job doesn't qualify though. Sad face

 

[JohnW]

ok so in short i cant.

I am guessing it's like trying to claim a suit.

 

[Power Raid]

ok so in short i cant.

I am guessing it's like trying to claim a suit.

not completely true

The ATO has all kinds of determinations which if challenged they back down from. ie directors options are deemed to be taxable using a black and scholes but they have always backed off when challenged. Same with the deduction relating to school books with Austudy which went to court and they lost.

You can't get too cute with the ATO but a reasonable position will usually be accepted. ie time pieces with a stop watch is deductible for a health instructor. time pieces for divers and pilots are also allowed. traveling by car to and from a cricket field for professionals is a deduction despite their position traveling to and from work is not usually a deduction.

If in doubt, speak to a good quality tax adviser

 

[sabre_ac]

Ive notice in Switzerland the watches are no cheaper than Australia or anywhere else. Does anyone have any suggestions on the best place to purchase Omega or Rolex type watches? Ive decided to avoid the grey market for now.

 

[Caesar]

Trying to deduct a luxury watch is taking the piss, and the tax man will hammer you for it. End of story.

 

[Power Raid]

Trying to deduct a luxury watch is taking the piss, and the tax man will hammer you for it. End of story.

Well that's the reason why people should consider registering Singapore and Indo companies.

They understand tax revenues is now a competing industry.

 

[Juddism]

Ive notice in Switzerland the watches are no cheaper than Australia or anywhere else. Does anyone have any suggestions on the best place to purchase Omega or Rolex type watches? Ive decided to avoid the grey market for now.

Dubai, HK or Tokyo.

 

[Power Raid]

probably a bit too close to the IWC yatch club series but I love the simplicity and sporty look

 

[checkraiseulite]

i really want a no-date sub; but i don't think it would be a good look to wear it to work.

such a beautiful watch:

also strong subtle brags and tax advice in this thread.

 

[Power Raid]

i really want a no-date sub; but i don't think it would be a good look to wear it to work.

such a beautiful watch:

also strong subtle brags and tax advice in this thread.

great choice

and who is the chick in the avatar?

 

[Poetic Justice]

Anyone bought dodgy watches over in Thailand?

Who am I kidding? of course you have!

Has anyone had any troubles removing links from bands with ones they've purchased?

 

[jonesy03]

Any love for the Daniel Wellington? Have been thinking about buying one online, need a new watch.

 

[checkraiseulite]

Any love for the Daniel Wellington? Have been thinking about buying one online, need a new watch.

Lose the conspicuous branding and it looks good.

If you like this look I'd go with uniform wares instead.

 

[checkraiseulite]

and who is the chick in the avatar?

all grown up

 

[Power Raid]

all grown up

wow

I am too old to be looking there

 

[Hawesome]

Figured I'll post a pic of my grail watch which sadly I'm years away from owning. One day... one day...

In the short term I'm more likely to pick up one of these to tide me over, or maybe a second-hand Reverso.

On the more budget side of things I love the look of Mondaine's Swiss railway watches and have been meaning to pick one up for awhile.

Ditto the orange monster.

 

[Contra Mundum]

Trying to deduct a luxury watch is taking the piss, and the tax man will hammer you for it. End of story.

Yep - on that logic you could deduct high end foutain pens as well