I have an investment property interstate and i used Qantas frequent flyer points (mostly) to purchase a flight to conduct house maintenance between tenants.
After a google search it is estimated that 1 point equals 1.8c. If i spent 36,000 points, can i claim $648 (36000 points x 1.8c) along with the other fees and charges ($80)?
Hi @KleranP,
You wouldn't be able to claim flights paid for in frequent flyer points as a deduction because you didn't technically "pay" for the tickets using money, so it wouldn't be considered a cost you incurred.
However if you paid for a portion of the travel without frequent flyers, you can claim those expenses.
Hi @KleranP,
You wouldn't be able to claim flights paid for in frequent flyer points as a deduction because you didn't technically "pay" for the tickets using money, so it wouldn't be considered a cost you incurred.
However if you paid for a portion of the travel without frequent flyers, you can claim those expenses.
this is why you get a good accountant / registered tax agent (tax deductible)
they can be creative listing it as... say a bartered trade expense between you and qantas/virgin etc
rather than a business trip using points
which even if it is only 50% deductible is better than 0%
Hi @KleranP and @dracoalexander,
Keep in mind to claim a travel deduction for rental properties you either need to be in the business of letting rental properties or an excluded entity. These include a public unit trust or a managed investment trust and a corporate tax entity for example.
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