All Topics / Forum Frolic / inspection expenses-tax deduction-on hols?

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of BusterBuster
    Participant
    @buster
    Join Date: 2003
    Post Count: 2
    September 21, 2003 - 6:05 am

    Hi all, Someone suggested combining holiday trip with IP search. I believe property inspections are tax deductible? What part of your hol would then be a deduction? What if you didn’t find suitable property? would it only apply if you made a purchase? Can anyone help me here?
    New to this I’m still on my”L”s
    Thanks in advance

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    September 22, 2003 - 4:01 am

    Hi Buster

    I am not an accountant, but wouls think that you could only claim expneses for inspections if you were running a property investment business or if you already had a property in the area you were travelling to. In that case you could only claim the portion that actually related to the property.
    eg 5 nights on the Gold Coast with only one inspection might be deemed 4 days holiday, one day work, but if you could schedule daily meetings and inspections, you MAY be ok.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.