Real Estate Learning Claims Tax?

[Darren]

I have attended a seminars relating to the management of rental properties and maximising rental income and would like to know if I'm able to claim this on tax

[Darren]

I'm told I can claim but what is required?

[Realty]

If you have attended seminars relating to the management of rental properties and maximising rental income, then the costs may be tax deductible (including travel and accommodation relating to attending the seminar as mentioned above).
Once again though, the deductible costs must be proportionate to the content of the seminar that relates to existing investment properties. Any content that relates to future investments you may make are not tax deductible at all. Don't forget that you can also claim deductions that relate to expenses on property management magazines and journals.

[Darren]

Thanks what about travel?

[Realty]

And from my understanding it's possible to claim for other justifiable travel & accomodation expenses
You are entitled to claim for travel, vehicle and accommodation expenses, which relate directly to the management of your investment property. However, substantiation rules may apply to these accommodation and travel expenses so be sure to keep log books and odometer readings on your vehicle, as well as other records itemising travel expenses.

Also, remember that only the proportion of accommodation and travel that relates to managing your investment property is deductible (any proportion of the trip that was for pleasure is not) so keep a good record of all these details and only claim what are genuine expenses

[Darren]

Thanks again , this will really give me more reason to visit such learning seminars now I know I can claim them.
I presume I can claim newspapers as I often use these to keep updated on what areas to invest in?

[Julie]

Claiming news papers is a interesting issue, I'm unsure about this but I cannot see why not as it keeps you upto date on all sorts of development.

[Real Estate Learning]

Next time I'm with my accountant I'll ask the question about claiming news papers.
I cannot see why not.