quote:
Originally posted by kay henryI would think with a 15K (or 50K seminar) you would NOT be able to claim it as a legitimate expense.
Kay, why would you say that? I’ve claimed a $15K course in my 01/02 tax return. I’m being questioned now on my Tony Robbins claim (which was also $12K), but not the investment seminar. My partner has been questioned on the investment one as well as the Tony Robbins claim.
I must say – AUDITS SUCK[V]
Cheers
MelMel,
I’d be significantly surprised if the 15k-50k seminars were tax deductible. Your partner got audited/questioned on it, so perhaps you can give us some feedback on what the ATO’s position on it is. :o)
kay henry
Hi
I’d be amazed if they were deductible as well… perhaps that’s part of the lure of going in the first place… “sure it costs 10k to go, but I’ll get it back from the tax man in the end.”
cheers
rThe questions from the ATO go:
What properties did you own before the seminar?
What did you pay, what rental etc.How long was the seminar (give us the notes!!). What were the topics covered? what (specifically) did you use in the seminar to increase your rental income. If you have not yet, what will you use to increase etc. etc.
What have you bought/sold since attending the seminar.
Same/same for shares.
It’s like a uni course. As a public servant, my management degree (ha ha) was relevant to my workplace, so I could claim it. My friend, however, couldn’t claim her tourism degree – not much relevance to her current job.
My property investing seminar was very relevant to how I currently earned a lot of my income, and was not going to ‘take me to a new career’, but rather to enhance my current ‘income producing’ activities.
As I said, he got questioned on the investment seminar and the Robbins ones, I’ve only been questioned on the Robbins ones (I’ve been buying property for MUCH longer than he has), and the questionnaire has been issued by exactly the same person.
Cheers
MelSpeaking of audits, receipts and excel spreadsheets. I think that you still need to keep all your receipts. If you get audited and you don’t have the proof of expense, that expense might be rejected by the ATO.
Cheers
Elysium-MMel,
I could set myself up to give seminars for 50k- but why would the ATO accept you using it as a tax deduction? Surely, there is some regulation on what is accepted and what isn’t?
I thought tony robbins did motivational seminars? Can you claim his fees to improve your life? seems like a long bow being drawn there.
I think the ATO is gonna clamp down on a lot of things. For example, surely one couldn’t claim “spotter” fees as a tax deduction? Waddya think?
kay henry
That’s funny Kay, I was thinking the same thing… maybe go out and start up my own courses, slug people a few grand for the honour of hearing me talk, and sell it by telling people it’s tax deductible… how win-win is that? [
]
rquote:
Originally posted by kay henry
I could set myself up to give seminars for 50k- but why would the ATO accept you using it as a tax deduction? Surely, there is some regulation on what is accepted and what isn’t?So are we saying that we wouldn’t claim Steve’s seminars? If I learn something that is going to help me with my ‘career’ – in this case property investing – why can I not claim it? Why can I claim Uni fees? Because theoretically it *should* help me to improve my income, and therefore the tax I pay. If you can get people to pay you $50K for your seminar, AND can teach them something that will help them to make money, then go for it.[
]quote:
[I thought tony robbins did motivational seminars? Can you claim his fees to improve your life? seems like a long bow being drawn there.Tony does do *motivational* seminars, but in fact they are more psychology of what you think, how you think, why you think etc. and how to change that. His courses have been successfully claimed by managers (the case that made the AFR was an air force officer who managed staff) in that they can use what they have learnt to get more out of their team and themselves.
quote:
I think the ATO is gonna clamp down on a lot of things. For example, surely one couldn’t claim “spotter” fees as a tax deduction? Waddya think?Why couldn’t you claim a spotters fee? Although that one maybe possibly should be a capital cost, and therefore added to your cost base rather than claimed against your income. It’s a ‘cost of doing business’, same as agent’s fees when selling can be claimed on the capital gain.
Cheers
MelMel, you ask if I am suggesting we couldn’t claim for courses by steve… I think we’re on a different wavelength here. I was suggesting one might be able to claim uni/TAFe fees, because they have accreditation by ANTA or whatever- the training authority. I had presumed that any course that was not an accredited course could not be claimed- but I’m quite happy to be corrected in that, as you’ve done.
I guess I also think that given the recent dealings of ASIC with those who are property seminar providers, that the ATO might not be accepting all property courses as claimable.
In fact, I don’t see any property seminars that cost money as better or worse than any others. I don’t have a hierarchy of providers. I merely see a number of providers.
kay henry
Did you know that Henry Kaye’s organisation was actually a Registered Training Organisation? Is that the same as you are suggesting?
Don’t shoot me, I do not quite get what you are saying.
If property seminars were going to be disallowed cos of some shonks, then they would presumably make an announcement as such. I haven’t heard of anything like that, so i’m going to assume that it is still ok. Although I’m not sure if I’ll claim too many of my courses that I undertook last year, this audit’s been a pain in the bum!
Cheers
Melhehe Mel- yeah, no doubt an audit is a pain in the bum. How come you go to anthony robbins’ courses? you seem well-adjusted to me :o)) They’re pretty exxy aren’t they?
kay henry
Cause its the feeling of Rock Concert Atmosphere [^][^][^]
quote:
Originally posted by kay henry
How come you go to anthony robbins’ courses? you seem well-adjusted to me :o)) They’re pretty exxy aren’t they?Hi Kay
I reckon I could say I’ve had the worst 18 months of my life starting in about June 02 when my alcoholic partner got trashed and fell backwards down some stairs and fractured his skull. Holding his head while it was p***ing blood was not a good feeling. Then in September my brothers gf was killed in a car accident (while I was attending Life Mastery in Fiji, so i didn’t find out until after the funeral). [
] Combined with some, shall we say, interesting investment catastrophes, and hell at work, I reckon I would have been a basket case by now if I hadn’t attended Tony’s courses.[:X]Of all the courses I have done, including investment ones that have helped me gain equity of close to half a million in a year, if I hadn’t done Tony’s, there’s no way I would have had the confidence or courage to even buy my third property, let alone my 14th, and deal with the problems we had settling on some of them in Dec 02.
Yes, they are a bit exxy[8], but I would recommend that everybody attend his initial 4 day one ‘Unleash the Power Within’ – the firewalk one – it’s about $1500 I think. I’m going to go again in Sydney this September/October when he’s here.[^] I sent a friend and her husband to the one held last year, and have bought 4 tickets to this years – but my family don’t seem to be interested in firewalking[
]Cheers
Melhehe- yes, firewalking isn’t my scene either. [
]Mel, I am sure you are an incredibly strong person inside. From all your postings, you seem a mature and reasonable person- what more is there to life than that?
I hope you have faith in yourself that it’s not tony robbins who helps you find answers, motivation, and peace- it’s you, Mel. No god, no guru, noone else can ever do anything for us. We do it all ourselves.
kay henry
Hi Mel,
I also agree strongly with Kay Henrys words, everytime i see your post, i always look forward to reading them, always sumthing educational and learning about them, but you put them in words that people can understand, even when its times that a particular subject is hard to grasp or understand.
Thanks for heaps of your effort and time in posting to the forum Mel, its been a real pleasure in reading them, but also getting some strong words of advice from you.
Cheers and thanks, though im still scared [8], you might come and try to shoot me before this Thursday.
Im now on the run….
Cheers,
s.i.sHi people (I wanted to say guys, which I say to mean a group of people, but thought I’d better not)
I’m not saying that it was Tony who helped me find the answers, but that he taught me how to look. His main focus is making, sorry, helping/encouraging you to take responsibility for yourself. He dislikes it when people attribute their changes to him, because then they feel that they need him in the future, rather than being able to do it themselves.
And SIS, I need more info!!!!!! [
]Firewalking was great – 3 steps and it was over! Think I need to do it again to really experience it, but not so sure.
I’ve bungy jumped, and skydived, but definitely DON’T feel the urge to do either of them again!
Cheers
MelThat’s alright, Mel- I can be included as a “guy”- I am pretty butch after all :o)
I understand the thrill factor- I like taking off and landing in planes – and turbulence! to get thrills too- I would fly all day and night just to do that- it’s so much fun. Although turbulence isn’t about facing fears etc- it’s just about kicks.
Mel, i fully believe in people taking responsibility for themselves too. I hate it when people take their shit out on other people [
] then again, victims suck too- hehe.Mel, I’d love to meet up with you when you come to sydney. If you have any time when you’re here and not being “robbinsed”, we could do a coffee or something
)kay henry
Sounds good Kay! I’ll have to work out when next I’m up that way, and I’ll let you know. Maybe I could try to make it up for your next Sydney get together – if you guys are still doing that. I could use that opportunity to hunt down and shoot SIS – although he still won’t tell me why [
]This is my 1000th post!!
Yay for me! And I beat SIS, even though he’s been posting like a mad thing!!!
Cheers
MelMel,
Congrats on your 1000th post! I lost count after 998, I confess
I don’t go to the sydney meetups- too many cashflow thingies or whatever. I am more of a “cafe/social drink” type. I’m not a particularly formal person.
If ya are up this way, and you wanna meet with me and sis, I am sure it could be arranged
kay henry
Hi Kay and Mel,
Im up for a cafe/social drink, anytime or anyplace im happy too. Though ill tell you in a PM, why you will want to shoot me…lol
Cheers,
sis
]
]
] Combined with some, shall we say, interesting investment catastrophes, and hell at work, I reckon I would have been a basket case by now if I hadn’t attended Tony’s courses.[:X]
]
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