All Topics / Legal & Accounting / Simple Tax advice query

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  • Profile photo of cazza69cazza69
    Participant
    @cazza69
    Join Date: 2006
    Post Count: 9
    June 12, 2006 - 3:24 am

    Hi,

    I have just bought my first positive cashflow property. I had a buyers agent do all the running around for it and purchased it subject to building and pest inspection. So I havent actually physically seen it live.

    I never really asked this of my accountant at the time stupid me. I seem to remember hearing taht I can take one trip a year to visit/inspect the prop and claim it under tax. Is this right? And if so I have a plan to get my next one in 3 months. Does this mean I can claim two trips if they are in different areas?

    How does this work if anyone can advise.

    Caz

    Profile photo of Stuart MilneStuart Milne
    Member
    @stuart-milne
    Join Date: 2006
    Post Count: 196
    June 12, 2006 - 4:18 am

    I believe “Reasonable travel Expenses” are allowed.

    And I also believe that yes you can claim more than one trip per year if they are in different Areas.

    Best to speak with someone like your accountant first though…

    Stuart Milne
    Non-Conforming Specialist
    READY Mortgages
    http://www.readymortgages.com.au
    [email protected]
    Mob: 0404 056 055

    Profile photo of cazza69cazza69
    Participant
    @cazza69
    Join Date: 2006
    Post Count: 9
    June 12, 2006 - 4:31 am

    Thanks Stuart, yeah obviously I will seek accountantant advice. I am not seeing her for 2 weeks though so was just asking in general.

    Thanks anyway.

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