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I am opening a new site which is 250km from my residence,

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can I claim accommodation as...
I am opening a new site which is 250km from my residence, can I claim accommodation as I am required to be on site for two weeks straight.
Submitted: 1 year ago.Category: Tax
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8/4/2016
Tax Professional: Dr. Fiona Chen, Certified Public Accountant (CPA) replied 1 year ago
Dr. Fiona Chen
Dr. Fiona Chen, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 482
Experience: Former IRS Revenue Agent
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Dear Customer,

1) When you said 250km from your residence, in which country is this new site?

2) In what capacity you are required to be on site?

3) Which type of business and type of business structure you have now and in the new site?

4) How often is and will be this requirement of being on site for two weeks straight?

Please response for me to have more information to consider.

Thank you.

Regards,

Fiona Chen, MPA, Ph.D., CPA, ABV, CFF, CITP

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 1 year ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,869
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello

The ATO does allow a deduction when accommodation incurred by an employee on short business trips, however, the tax treatment is less clear where an employee is required to work away from their usual place of residence for an extended duration (more than 21 days).

When you travel for six or more nights in a row and you receive a travel allowance that is shown on your payment summary, you may need to keep a travel diary in which you record the dates, places, times and duration of your activities and travel. The purpose of a travel diary is to allow accurate calculation of the employment-related and private elements of your trip.

https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/Vehicle-and-travel-expenses/Other-travel-expenses/

Please let me know if you need clarification. If you do not then a positive rating is appreciated so I get credit for the response. (look for the STARS or SMILEY FACES)

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Tax Professional: Dr. Fiona Chen, Certified Public Accountant (CPA) replied 1 year ago

Dear Customer,

If you are on site as an investor but not an employee, you can deduct the cost as an investor. Then, the deduction is from an individual's perspective. Below at the end is the link and quotation.

As an employee, the accommodations on an individual return, the deductions can be considered as follows. https://www.ato.gov.au/Individuals/Tax-return/2016/Tax-return/Deduction-questions-D1-D10/

Nevertheless, depending on your business type and business structure, if you are on the second site as an employee including being a company officer, it may be easier for bookkeeping and more tax beneficial to have your business to pay for or reimburse your expenses instead of deducting the expenses as your own on your personal tax return.

Regards,

Fiona

https://www.ato.gov.au/individuals/tax-return/2016/tax-return/deduction-questions-d1-d10/d8-dividend-deductions-2016/

As the investor, your expenses may include:

  • management fees and fees for investment advice relating to changes in the mix of your investments
  • interest charged on money borrowed to purchase shares or similar investments
  • costs relating to managing your investments, such as travel and buying specialist investment journals or subscriptions.
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Dr. Fiona Chen
Dr. Fiona Chen
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