Can anybody tell me is Steve’s masterclass tax deductable? what about plane tickets and accomodation to masterclass?
Books, magazines, seminars??????
(I hope so) please let me know if you have any info or where I could get it from
Femaleage,
Here is very worthwhile thread to read started by Derek some time back, for further info I suggest you try the ATO website.
https://www.propertyinvesting.com/forum/topic/12167.html?SearchTerms=seminar,tax,deductible
YES – if done as part of your business.
Robert Bou-Hamdan
Mortgage Adviser0414 347 771
[email protected]
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltdbut if I’m only renting out one property but have plans one useing some of Steve’s stragagies to earn more money is that considered a business or woulod if be worth me getting and ABN and useing this when I purchase and sell properties??
I read previous forum, interesting, does that meen that I can only claim the % of the seminar that directly relates to my situations (any info on rental properties)?? would I then claim the same % on plane tickets and accomodation??
It doesn’t need to be a business.
If you’re already an investor and you’re paying to go a seminar to learn more investing techniques, then it’s deductible… sort of like self education claims that relate to your work…
If you’re coming to Melbourne (or whatever) for the specific purpose of the seminar, ie fly down, go to seminar, stay the night and fly back next morning, then I would be claiming 100% of everything. If however, you stay for a few days to see the sights, then you have to apportion things.
This type of thing has been discussed many times… get a decent accountant and ask them the questions… don’t rely on postings on a web forum.
cheers
rInvesting is a business!
Same thing Richmond.
Robert Bou-Hamdan
Mortgage Adviser0414 347 771
[email protected]
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltdthanks for your help, we are only flying in day before seminar and flying out day after. Hopefully this whole experience will be 30% cheaper now! Will discuss finer details with our accountant. Thanks for your help
MA – You’re nitpicking – I meant it’s not a business in terms of needing to get an ABN etc, which is what she asked about. Of course you have to approach it like a business though.
merry xmas
cheers
rI am nitpicking???????
hahaha
Robert Bou-Hamdan
Mortgage Adviser0414 347 771
[email protected]
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdHi, I’ve been claiming Steve’s seminars, personal development seminars, magazines, books and any material related to investing or improving our chances of investing successfully for years without a hitch – don’t see why anyone else can’t. Cheers [biggrin]
Unless you have an investment property or a business, I can’t see how you are doing it legally. If so, I am going to back-date my returns to include my school education, uni. and other courses, seminars, etc I attended out of interest when I had a job.
Robert Bou-Hamdan
Mortgage Adviser0414 347 771
[email protected]
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdWe have a partnership tax structure so maybe that has enabled us to claim – either way the accountant said we can claim, so we do.[blush2]
Obviously you are an investor so you are able to claim. Good luck to the others though.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdYou can claim anything and get away with it if you’re not audited! You must make sure you can justify it if audited. I do beleive you should claim these expenses, but remmber reading a ruling on claiming investment courses, and from memory, it wasn’t too good news. For example, if some part of the course covered shares and you didn’t have shares, then that part would not be claimable. Also some courses have personal development aspects, patting people on the bum, hugging jumping etc. this portion would not be claimable. So in the end only a small poriton would be claimable, and the same for travel expenses etc.
However with Steve’s course, amost all of it is directly property related!!
Terryw
Discover Home Loans
Mortgage Broker
North Sydney
Click below to email meTerryw | 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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