im currently attending a commerce course at university and majoring in property and finance. Now reading through some posts about tax returns i was wondering if, because i have an investment property would i be able to claim the course fees??
Also would i be able to claim all of the money if i attend a property investing seminar?If not how does someone go about doing this as i have read about it in another post.
Because my mum works for a property investing company (family friends) and is paid on commissions would i be able to say be employed by the company (because only paid on commisions therefore don't have to be paid by them) and then claim the course??
What other options are available to me?
or am i just having a bit of wishful thinking lol
You can claim property investing seminars if you own an investment property.
No idea about others, could you argue that you are doing a university commerce degree to learn about trusts for the benefits of your own investing?
http://www.propertyinvesting.com/forums/getting-technical/legal-accounting/6144
this is the post i was referring to… interesting to no if my uni fees will be deductible as i am full feeing and paying upfront. Also if i have paid a year already (last year) and havent claimed would i still be able to do so?
thanks
Tax deductions have to relate to your earning capacity. If you only have one or two properties, then you probably aren't in the business of investing and probably couldn't justify spending $10,000 pa on a course which relates to your making a loss of $xx per year. I would like to say you could claim it, but don't think you can – unless maybe you have a job in the industry at the moment.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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