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everything Legally Allowed....
http://www.ato.gov.au/individuals/c...htm&pc=001/002/002/010/005&mnu=&mfp=&st=&cy=1
Cheers,
The Y-man
Everything legally allowed....
http://www.ato.gov.au/individuals/c...htm&pc=001/002/002/010/005&mnu=&mfp=&st=&cy=1
Cheers,
The Y-man
Add to that list all the deductions for a Home Office, but only if you are running a Property Investment Business, which is completely different to someone who has one little IP.
I claim Investment educational products and journals too such as books, CD's, DVD's, magazines, seminars etc etc.
Also, my computer and internet connection, although that does come under Home Office expenses.
So what does 'Travel' include:
- return air tickets?
- hotel transfers from airport?
- accomodation for all 4 nights or less?
- what about food I ate while I was there?
- Car hire for the 1 day? (It was the day I inspected my property)
ATO said:Travel expenses
Where travel related to your rental property is combined with a holiday or other private activities, you may need to apportion the expenses. You may be able to claim local expenses that are directly related to the property inspection and a proportion of accommodation expenses.
A common mistake is to claim a deduction for the cost of travel when the main purpose of the trip is to have a holiday and the inspection of the property is incidental to that.
Hi
I visited my IP in Far North QLD recently. I was there for 4 nights, during which I:
- inspected my IP
- spoke to a few local estate agents
but the other time I went snorkelling, bushwalking etc. etc - you get the picture
So what does 'Travel' include:
- return air tickets?
- hotel transfers from airport?
- accomodation for all 4 nights or less?
- what about food I ate while I was there?
- Car hire for the 1 day? (It was the day I inspected my property)
Thanks!!!!
Apportionment of travel expenses
Where travel related to your rental property is combined with a holiday or other private activities, you may need to apportion the expenses.
If you travel to inspect your rental property and combine this with a holiday, you need to take into account the reasons for your trip. If the main purpose of your trip is to have a holiday and the inspection of the property is incidental to that main purpose, you cannot claim a deduction for the cost of the travel. However, you may be able to claim local expenses directly related to the property inspection and a proportion of accommodation expenses.
EXAMPLE
14: Apportionment of travel expenses
The Hitchmans also owned another rental property in a resort town on the north coast of Queensland. They spent $1,000 on airfares and $1,500 on accommodation when they travelled from their home in Perth to the resort town, mainly for the purpose of holidaying, but also to inspect the property. They also spent $50 on taxi fares for the return trip from the hotel to the rental property. The Hitchmans spent one day on matters relating to the rental property and nine days swimming and sightseeing.
No deduction can be claimed for any part of the $1,000 airfares.
The Hitchmans can claim a deduction for the $50 taxi fare.
A deduction for 10% of the accommodation expenses (10% of $1,500 = $150) would be considered reasonable in the circumstances. The total travel expenses the Hitchmans can claim are therefore $200 ($50 taxi fare plus $150 accommodation). Accordingly, Mr and Mrs Hitchman can each claim a deduction of $100.
Add to that list all the deductions for a Home Office, but only if you are running a Property Investment Business, which is completely different to someone who has one little IP.
I'd be interested in more information on this. My hubby and I are often amazed at what we are told people are claiming.