Tax return advise: claiming course fees

Viewing 6 posts - 1 through 6 (of 6 total)

tanjimh
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@tanjimh
Join Date: 2011
Post Count: 39
June 7, 2012 - 12:26 pm
Hi guys, I am looking for some advise for my tax return.
I work in IT Industry. Currently I am doing Steve’s Cert IV in property Investing. I also recently bought Dean Parker’s Reno materials and attended the 3 day Property Investing conference in Melbourne.
Is there a way of claiming these course material fees and trip expenses in my tax return?
uppitt
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@uppitt
Join Date: 2003
Post Count: 12
June 8, 2012 - 2:08 am
check with your accountant, but generally the answer is no, as it’s not related to your current employment.
Catalyst
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@catalyst
Join Date: 2008
Post Count: 1,404
June 9, 2012 - 12:58 am
Do you own property? If the answer is no then No you can't claim.
If the answer is yes you may be able to claim it as education relating to your property portfolio.
Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
June 9, 2012 - 1:34 am
ATO ID 2003/324
Income Tax
Deductions: rental property expenses: property investment seminar
http://law.ato.gov.au/atolaw/view.htm?docid=AID/AID2003324/00001
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
ChrisA1
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@chrisa1
Join Date: 2011
Post Count: 172
June 10, 2012 - 10:57 pm
Very interesting link Terry, thank you
So it sounds as that if you have 1 or more investment properties, you may be able to claim courses etc…. must talk to my accountant!
Cheers,
ChrisA1
Persistence is 'to keep on keeping on, no matter how hard the going may be'
jnb
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@jnb
Join Date: 2012
Post Count: 29
June 11, 2012 - 2:25 am
thank you terry