Property Investment Travel Expenses | No More Tax Deductions For Inspecting Your Investment Property
Tax Deductions Have Changed Significantly In The Budget
Property investment travel expenses are out! Whether for purposes of inspection or maintenance you can no longer claim property investment travel expenses as a deduction. This makes your property manager even more important.
Travel expenses for investors no longer deductible – Mortgage Business
Individual investors with residential investment properties will no longer be able to deduct travel expenses, including travel costs associated with inspecting and maintaining properties, the government has confirmed.
However, Ms O’Dwyer emphasises that the change in law will not prevent investors from claiming a deduction for the expense of engaging third parties, such as real estate agents, to provide property management services for investment properties. mortgagebusiness.com.au