Hi Everyone
Our accountant has just informed us that we can't claim a trip to Cairns from Perth, last year to inspect our rental property. The trip was for 5 days (I thought i read somewhere that you don't need to keep a diary for a trip of 5 days or less?) we hadn't seen the property for 3 years and it was in need of a fair bit of work so we though we had better have a look at it. We did take one day off to go diving but other than that we were checking out hardware stores, talking to tradies, seeing other rental agencies because we weren't happy with the service from ours etc. I was under the impression that if the purpose of the trip was to inspect the property and we took one day off for personal interests then we could claim four fifths of the expenses. Can anyone help with this one please???Anrobel wrote:Hi Everyone
Our accountant has just informed us that we can't claim a trip to Cairns from Perth, last year to inspect our rental property. The trip was for 5 days (I thought i read somewhere that you don't need to keep a diary for a trip of 5 days or less?) we hadn't seen the property for 3 years and it was in need of a fair bit of work so we though we had better have a look at it. We did take one day off to go diving but other than that we were checking out hardware stores, talking to tradies, seeing other rental agencies because we weren't happy with the service from ours etc. I was under the impression that if the purpose of the trip was to inspect the property and we took one day off for personal interests then we could claim four fifths of the expenses. Can anyone help with this one please???Gee I dunno-I would have thought a professionally qualified accountant would have a good idea. If in doubt why dont you query another accountant for a second opinion?
Well, start recreating your diary:
Date/Time Taxi to airport incl invoicesDate/Time Flight No. including invoices
Date/Time Hire Car Pick-up incl booking slip & numberDate/Time Arrive Accommodation
Date/Time Drive to unit
Date/Time Inspect Premises
Date/Time Phone Calls to tradies
Date/Time Visit to Trade suppliers
Date/Time Visit to CouncilDate/Time Back to Airport
Date/Time Pay Hire Car
Date/Time Flight No. etc
Date/Time Taxi homeThanks Scott No Mates – will have to, I'm not real popular at home at the mo 'cause i managed to misplace the folder with all of our reciepts in it! I will see what i can come up with otherwise i might have to chalk it up to lesson learnt!
Anrobel wrote:Thanks Scott No Mates – will have to, I'm not real popular at home at the mo 'cause i managed to misplace the folder with all of our reciepts in it! I will see what i can come up with otherwise i might have to chalk it up to lesson learnt!Whats the point of going to the trouble of finding receipts and doing a dodgy diary if the accountant has said you cant claim? Or is the only reason you cant claim becasue you dont have a diary?
Yeah can't claim without a diary apparently. Some accountants seem a little more by the book than others – but better than being audited and caught out i guess
You can claim without the diary; just hope you don't get audited.
Just give him the correct figures and tell him to do it.
He gets you to sign a bloody waiver anyway; what does he care?
Cool thanks Marc –
Takes the pressure off having to sort it straight away – I'm away at work now and going away on holiday when i get back into town. We gave him all of our paper work in August and this is the first we have heard of needing a diary! Hi Anrobel,
Visit the ATo website – everything you need is there. I suggest the NAT1729 Rental properties guide (se page 9) and also ther is plenty of other help, rulings, and info on repairs, what is and is not deductable etc. I think you will get a pleasant surprise. All the best.I would not rely on your accountant or you could be paying a lot more tax than you should. Go to the ATO site and get those booklets v8ghia mentioned, then look up the Tax Rulings mentioned in the relevant section. Shouldn't take too long to find and you will be educating yourself on the way.
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 guys
Takes the pressure off having to sort it straight away – I'm away at work now and going away on holiday when i get back into town. We gave him all of our paper work in August and this is the first we have heard of needing a diary! 
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