Food costs
- Thread starter Glenn
- Start date
Don't know if many foodstuffs last long enough to be depreciated!!!!
But if you meant "deductible", I would think only if you're catering for your tenants. eg If you run a B&B, or serviced apartments (tea, coffee, milk etc would be deductible).
Can't wait to see what creative ideas others come up with!
But if you meant "deductible", I would think only if you're catering for your tenants. eg If you run a B&B, or serviced apartments (tea, coffee, milk etc would be deductible).
Can't wait to see what creative ideas others come up with!
Don't know if many foodstuffs last long enough to be depreciated!!!!
But if you meant "deductible", I would think only if you're catering for your tenants. eg If you run a B&B, or serviced apartments (tea, coffee, milk etc would be deductible).
Can't wait to see what creative ideas others come up with!
ozperp...you caught me out...yes, the term should have been "deductable"
Thanks
Glenn
What about for holiday rentals? Cereals, spreads, etc and other grocery type items like laundry detergent? Anyone claiming these?
If you ran a fast food business (say, a Subway) then you could deduct the costs of takeaways from other Subways, or even other establishements, as research. You would need to back up your claims by making a diary of where it was, and what you learnt from that establishment.
Having said that- I have not claimed anything in the three years I've been in the business.
1. If I'm local, I don't need to buy something I can get for free
2. If I'm not local, well, it happens so seldom that I don't really think it's worth putting in that much extra effort- and the $$ are minimal
3. I don't want to buy a rival product when I'm going to and from work in a Subway uniform (and that does include trips to Sydney for Subway purposes).
4. I still really enjoy my own product.
Having said that- I have not claimed anything in the three years I've been in the business.
1. If I'm local, I don't need to buy something I can get for free
2. If I'm not local, well, it happens so seldom that I don't really think it's worth putting in that much extra effort- and the $$ are minimal
3. I don't want to buy a rival product when I'm going to and from work in a Subway uniform (and that does include trips to Sydney for Subway purposes).
4. I still really enjoy my own product.
Possibly if you went to visit an interstate IP, you may be able to claim the cost of meals.
Don't know this to be fact and personally I wouldn't bother.
Regards
Marty
Actually, if you were operating through a trust or company, and the company sent you interstate, I believe there are circumstances where you can claim (or get paid from the company?) meal allowances and accommodation allowances. You don't have to prove the expenses- there is a per diem rate which varies according to the city you are staying. You could, claim a lot in this way.
We used to have contractors who came to Canberra Monday to Friday, and went home to Sydney/Melbourne/Brisbane on the weekends. They saved very significant mounts in tax.
How many minutes bother are we talking if you are organised
Pretty simple really as I don't have any takeaways within 5miles of me !
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