Is internet connection tax deductible?

I had the impression it can be tax deductible based on a % of it being used to search for properties.


Best to check with an accountant but I dont think you can claim internet costs for "searching" for a property that you dont yet own or haven't been earning income for. Typically you can claim rental property expenses once you own a property that is "available for rent".
 
I had the impression it can be tax deductible based on a % of it being used to search for properties.

Internet expenses related to searching for property are just as tax deductable as travel expenses incurred while travelling to other states in search of property deals. ZERO deductability.
Tax deductions are expenses incurred through earning income, not looking for sources of income. It's really a very simple test.
 
If you have school-aged children, internet can be claimed as education expenses. Also, if you do on-line share trading, you could probably claim a %age. Check with your accountant if you invest on-line rather than trade.
 
Tax deductions are expenses incurred through earning income, not looking for sources of income.

I don't know if this is fully true as expenses for Quotes for tradespeople are fully tax deductible even if they don't get the job?
I believe if you use the internet to do internet banking,accountants questions (Email) or finding property,it should be deductible,especially if you already have IPs.Just like a trip to the library to do research,except you don't:confused: leave the house.
 
I don't know if this is fully true as expenses for Quotes for tradespeople are fully tax deductible even if they don't get the job?

Isn't that only the case once you actually own the property? Therefore, it passes the "expenses related to earning income" test.
 
Isn't that only the case once you actually own the property? Therefore, it passes the "expenses related to earning income" test.

You could be right,Probably best to own some kind of income producing business or IP first or every person would be claiming.
 
Top