Tax Deductable Property Courses

Discussion in 'Property Experts' started by Property101, 25th Mar, 2017.

Join Australia's most dynamic and respected property investment community
  1. Property101

    Property101 Well-Known Member

    Joined:
    24th Jan, 2016
    Posts:
    105
    Location:
    Western Australia
    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.
     
  2. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    8,738
    Location:
    Adelaide and Gold Coast
    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.
     
  3. Property101

    Property101 Well-Known Member

    Joined:
    24th Jan, 2016
    Posts:
    105
    Location:
    Western Australia
    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.
     
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    25,866
    Location:
    Australia wide
    The course would only be deductible to the extent it relates to improving rental income from existing investment properties.
     
    Propertunity and Property101 like this.
  5. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    11,997
    Location:
    Sydney
    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.
     
    Terry_w likes this.