Tax Deductable Property Courses

Hello,

I would love to attend Cherie Barbers Renovating for Profit Course.

Also I would like to create a list here for reference of such courses approved by the Australian Taxation Office or your Accountant....which you are able to claim back full or part off.

I have read literature and there is certain/strict guidelines that must be meet.

If you have enjoyed a course and been able to claim back part of portion...would you kindly care to share to help others.

Thank You in Advance.

 

Firstly I don't think whether its tax deductible or not makes a course good or bad.

Second - pretty sure the only requirement for tax deductibleness is that it relates to something you're already involved in.

 

Hello yes I agree.

But I would like to make others aware there are courses available and know for myself as well.

I just happen to be interested in renovating for profit but I don't meet this requirement at the moment...just general interest for the future.

 

The course would only be deductible to the extent it relates to improving rental income from existing investment properties.

 

And non-deductible to a person who has no property that produces income.

I have seen spouses attend the course and then noted only one of them owns property. Hence only one persons costs is deductible.

There is also a concern that some attend the course intending to establish a renovation stream of income rather than enhanced rents. In such a case the course fee would be a preliminary expense and 100% non-deductible.

Important to apply personal facts etc and may be a question for personal tax advice.