Storage as tax deduction

Discussion in 'Accounting & Tax' started by Hillbilly, 9th Sep, 2018.

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  1. Hillbilly

    Hillbilly Active Member

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    We are temporarily renting out our home while we go overseas. Can we claim the cost to store some of our furniture whilst the home is rented because the tenants want it unfurnished?
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    How does this relate to income?
     
  3. Ross Forrester

    Ross Forrester Well-Known Member

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    I think the decision to store your personal belongings is a personal one. So it is unlikely to be tax deductible.

    If you are relocating due to work think about salary sacrificing your moving costs.
     
  4. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Most certainly the cost is private.