Shed ownership on land client doesn't own

Question

 · Accepted Answer

JodieR_ATO · Answer

The way we look at income and expenses is whether they're work related or from investment. If the shed has been erected just for the convenience of having a shed, it's deemed personal and no expenses are deductible. If the brother that erected the shed charged the brother that owns the property to do the work, then the expense may be deductible under his ABN (https://www.ato.gov.au/Business/Starting-your-own-business/Business-structures---key-tax-obligations/#Whatarebusinessstructures).

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