Electrcity

What would a reasonable Tax claim be for a investor with say 4 IP and Shares in regards to Electricity ?

I know u can claim 45 cents per hour

Is 3 hours per week ok ?

 

Why would there be any electricity claim?

 

Rental income is passive and technically no home office costs apply to producing that income. A deduction may be claimed for costs of attending to tax compliance etc such as record keeping for your properties and share trading / income etc. At 45 cents a hour the deduction wont be much. You should keep records of the time taken so a reasonable record exists. If you did that for a typical quarter it would be reasonable to use same number of hours for all other quarters

 

And at 45c an hour it would likely cost you more in stationary and postage than the claims worth

 

And its probably 45c/kilowatt hour too ;-)

 

At 1 hour per year - you should round it down as under 50c though.

 

I have a dedicated pen that I use to sign leases so it's deductible. It cost $800 so I'm depreciating it actually.

 

I had one of those too. But one day i slipped up and wrote a shopping list - I then had to apportion it.

 

You need to learn apportion control when you cook your meals

 

Actually some of the things on my list were investment related, so I would have to apportion further,

 

Well under 1k so goes into the low value pool which is an ok rate

If it was purchased by a small business entity and used exclusively for business purposes it would be fully deductible.

 

Is fringe penifits tax payable?

 

If it was solely used for business purposes no.

 

My PEN IS tax deductible

 

Do you use it for work?

 

It works. Is that the same ? ...The Weinstein defence !!

 

My samsung note8 is also tax deductible in full and not subject to fbt.

 

Strange. You a non resident. ...necessarily incurred in producing assessable income creates question about mixed use. Get tax advice maybe. Substantiation?

Many devices with a tax entity can be deductible in full. To the entity

 

haha thats right its deductible to an overseas permanent establishment. no fbt issues. no deductibility issues. proper transfer pricing documentation in place.

btw im a resident now