In the past I have claimed a book keeping fee for 2 IP’s I have and have attributed the claim to each of my parents (they are both pensioners and the claims have not been made to affect their pensions). My accountant has told me that this is illegal and both my parents would require an ‘ABN no’!!!! I saw another accountant who is well regarded and told me this is not the case? Does anyone have any advice on the correct ruling of book keeping costs? Thanking you in advance (and possibly paying my current accountant in arrears!)
Cheers,
Gatsby.Hi,
Hmmm – not sure what you mean mate.
If you are the owner of the property then I can’t see how you can claim the deduction in the hands of your parents?!?
Possibly you are talking about a trust where you have claimed the deduction and then distributed the surplus trust funds to your parents?
Or do your parents do the bookkeeping?
Sorry – I’m confused!
Cheers,
Steve McKnight
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