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Tax deductibility

Discussion in 'Accounting & Tax' started by MJS1034, 3rd Aug, 2015.

  1. MJS1034

    MJS1034 Well-Known Member

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    28th Jun, 2015
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    Sunshine Coast
    Hi guys,

    Quick question for all you tax experts out there.

    I'm currently away on holidays whilst also visiting my IP. From my understanding is that I'm unable to claim my flights here as my main purpose for my trip is the holiday.

    Can I claim a portion of my flights for the trip? Is there anything else I can claim as part of visiting my IP?

    Thankyou all in advance
    MJS
     
  2. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Some portion will probably be deductible.

    Chat to your accountant :)
     
    MJS1034 likes this.
  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Sounds like a private trip to me - incidental investment related trip tagged on. Can you justify it?
     
  4. MJS1034

    MJS1034 Well-Known Member

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    Sunshine Coast
    I can justify a couple of days going to the IP but the rest of the time spent up here is purely for a holiday.

    I'm here for 10 days, if 2 of those days are spent going to the IP I'm I able to claim that portion (1/5) of my flights and accomodation etc?
     
  5. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    What are you doing at the IP?