CAN I CLAIM MY HOLIDAY AS A RENTAL EXPENSE?

woman on holiday with camera

You have a rental property. Can you claim your holiday as an expense? If you spend time travelling as part of your business you can claim business travel as an expense. A good way to prove the business portion of your travel expenses is by keeping a diary of your travels.In addition to keeping invoices, receipts and tickets you should also keep details of:the date of the tripyour itinerarythe cost of car hire, and air, bus and taxi faresthe cost of accommodation, meals and incidentalsthe t […]

Read More

GST & RENTAL PROPERTIES

questions answers

For GST-registered buyers, buying a property off a GST-registered seller means that the sale is zero-rated for GST i.e. none is paid by the seller and none claimed by the buyer.

Read More

OFFSET LTC PROFITS OR LOSSES AGAINST OTHER RENTALS

hourglass money sand

Note that you can’t offset any losses against income from other sources e.g. wages, like you used to in the good old days. That is what the concept of “ring-fencing of losses” means. The losses are “ring-fenced” so that they only apply to residential rental property.

Read More