Last year I went to New Plymouth and to Napier to look at properties and to introduce myself to real estate sales people.
I kept all the receipts and details of all of the contacts that I had had. Unfortunately nothing eventuated on these occasions. Some people treat you like a schmuck if you come for out of town.
I then submitted the receipts etc along with my other accounts etc only to be told "No sorry you've done your dough unless you actually purchase something" by my accountant. Nice guy charges the earth.
Apparantly these costs can then be capitalised and depreciated this way.
Ouch. Oh well so be it.
The problem is I need (want?) to spread my eggs in various baskets in a variety of towns. Not being to keen to purchase without viewing the property means I must go. However if I am doing my dough unless I purchase this could be expensive. I don't want to buy a $100k property just to get my expenses back.
Q. Is there a way around this?
What if I joined the local PI association and "went to a meeting" whilst doing my exploratory work? would this work?
Any body got any ideas....
Allan S
I kept all the receipts and details of all of the contacts that I had had. Unfortunately nothing eventuated on these occasions. Some people treat you like a schmuck if you come for out of town.
I then submitted the receipts etc along with my other accounts etc only to be told "No sorry you've done your dough unless you actually purchase something" by my accountant. Nice guy charges the earth.
Apparantly these costs can then be capitalised and depreciated this way.
Ouch. Oh well so be it.
The problem is I need (want?) to spread my eggs in various baskets in a variety of towns. Not being to keen to purchase without viewing the property means I must go. However if I am doing my dough unless I purchase this could be expensive. I don't want to buy a $100k property just to get my expenses back.
Q. Is there a way around this?
What if I joined the local PI association and "went to a meeting" whilst doing my exploratory work? would this work?
Any body got any ideas....
Allan S
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