Is a property investing dvd set tax deductable?

[Sam_H]

Hi Guys

In general - would a dvd set on property investing be tax deductable?
If so -are there any conditions.....ie your have to have a IP etc

Thanks in advance!


Sam

 

[coopranos]

If you are using the dvd to produce an assessable income, then it would likely be deductible. Depending on the cost, you may need to write it off over a number of years. If you have no rental properties currently, or only one rental property and the dvd set is on doing property renovations, then it is unlikely it will be deductible.
May I also suggest a book on spelling and grammar, not tax deductible, but will help you tremendously.

 

[splade]

wats wrong with teh gramm4? This is a formum not a job application...


My tax man says that I can claim such things, but he said it was only because I have more than one IP and am actively looking for more, i.e., investement property is something that I am working on getting even further into, and therefor I need to spend money on training in that job. I think if i wasnt looking on expanding my income through more IP's then it wouldnt really be a work expense.

I think that you would at least have to have one maybe two properties already to be able to claim it as a tax deductible item.

 

[geoffw]

But like Coopranos said- it should be directly related to an aspect of property which is currently earning income. If you are buy and hold,and renovating- then a DVD set on Property Development may not be deductible.

Buying through a trust may give you a little more scope though.

 

[Jaffasoft]

Also further there is a comprehensive list of things that can be claimed over at Dales web site.

Which is the first of one l've ever found on the internet so it's great that that has been done and is simple and easy.