Hi all, MERRY CHRISTMAS
I have a question, my IP has been vacant and my farther has been helping me out and cutting the lawn. I would like to pay him for cutting the lawn. If i paid a professional they would charge something like $30 each time. Can i give my dad money and claim this expense?
p.s why is my on screen name confused? How can i change this?
[^] Merry Christmas
Absolutely you can pay him and claim it as an expense – just make sure you have a record eg an internet BPAY record, cash receipt etc as no evidence doesn’t wash with the taxman.
Have a fab Xmas,
[
]
Mel
[email protected]Thanks for that answer Mel,
Something else you may be able to answer, that is everytime i go to a new town or visit a place on a holiday, I always hope in to see the local agents, can i claim a car expenses etc. I am guess no, but curious.
Put your car in a company name as then there is less chance of claims being questioned.
Pisces133
Confused,
If you actually buy a place then you can claim it as a purchase expense.
If you are in the business of IPs then you can claim all your research.
What is the line between being an investor and being in the business (full time I think) of IP investing?
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
confused, mate, click on the Profile button at the top of your screen.
Cheers
MelConfused. You are probably aware of this but, don’t forget if you pay your dad, he has to declare the money as income.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks for the advise[
]I am also no longer confused. I am keen to go to one of these meetings held in Sydney, does anyone know much about them, when the next one is on etc.
Hi to All,
You can claim most of the things just keep your receipts and if unaware you can always ask people at the forum and buy a Taxpayers book for 2003 2004 where all the laws and regulations are there regarding the tax return…
[]Isnt anything less than $50.00 qualify in the sense of not having to provide a tax complient invoice…
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