Ute rental and fuel charge tax deduction ?

[JohnHenry]

Hi mate,

Today I have just rent a ute and refill its petrol for the purpose of inspection and delivering some furniture to my Investment Property in Regional NSW area.

So by law which one can I put it as negative gearing component ?

Thanks

 

[Aaron_C]

What are you asking???

 

[JohnHenry]

I'm asking which one I can put against tax deduction ?

is it the total $120 ute tent+insurance + $30 petrol
or
just the $90 ute rent only ?

 

[Terryw]

you must be asking if you can claim these costs?

how does the furniture relate to producing an income?

if you are renting the house out furnished and charging extra for this then u may be able to claim those costs in full.

 

[JohnHenry]

you must be asking if you can claim these costs?

how does the furniture relate to producing an income?

if you are renting the house out furnished and charging extra for this then u may be able to claim those costs in full.

Yes I'm renting my house fully furnished, including the utilities bills (Gas, Electricity, water and Internet).

so in this case the receipt above can be regarded as tax deductible ?
or if not I can just claim the petrol bills just for the inspection fee ?

 

[damacc]

Have you read the ATO's guide "Rental Properties 2011"? I think it would be worth your while. A new version comes out about July each year.

 

[datto]

The whole lot must be deductable in my opinion.

Providing there is no private component to the expense.

It would be similar to flying interstate to inspect your IP. I think the ATO allows one such inspection per year.

 

[Mry]

If the vehicle was only used for the furniture delivery to your existing rental property and for an inspection of your existing rental property, the rental and fuel is deductible.