You need to know that the deductibility changed from 1 July 2017.

 

From 1 July 2017, travel expenses relating to inspecting, maintaining, collecting rent, or attending management meetings for a residential rental property cannot be claimed as deductions by investors. The changes are now law.

Excluded travel expenses include air fares, motor vehicle, hire car, taxi, public transport and any associated accommodation costs.

The travel expenditure is also not recognised in the cost base of the property for CGT purposes.

We can assist if you have any questions on these changes, please email clientservices@dlapartners.com.au or phone (07) 3863 9444.

This information does not constitute financial or legal advice and is for general information purposes only. Please contact DLA Partners for specific advice relating to your particular circumstances.

%d bloggers like this: