All Topics / Hotch Potch / Gifts to Tenants & Property Mgrs Tax Deductible?

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  • Profile photo of MagnetMagnet
    Member
    @magnet
    Join Date: 2003
    Post Count: 6
    November 27, 2003 - 11:38 am

    Hi all, apologies if this has already been raised, but I was wondering – are gifts to tenants, property managers, accountants etc. tax deductible? I have heard conflicting advice, some say they are and some say they aren’t. Could somebody please advise or point me to an earlier discussion topic if this has been addressed?

    Thanks, Magnet

    Profile photo of kitdoctorkitdoctor
    Participant
    @kitdoctor
    Join Date: 2003
    Post Count: 10
    November 27, 2003 - 12:41 pm

    Good question. We claimed a couple of gift baskets sent to tennants and my accountant queried it. Between her and two other partners they recommended I shouldn’t but didn’t give any strong argument why, so we did.

    kitdoctor

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    November 28, 2003 - 2:06 pm

    if it relates to your earning an income, then it should probably be allowable. You just have to be able to justify it if you are audited.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 3 posts - 1 through 3 (of 3 total)

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