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FOR DIVIDEND AND SHARED INCOME EXPENSES WHAT ARE THE THINGS THAT AN INDIVIDUAL CAN CLAIM AND CANNOT CLAIM.

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24
May

Dividend and share income expenses
You can deduct the interest charged on the money you borrowed for purchasing shares and other investment from which you got the assessable interest or dividend income.

What You Can Claim
The fees or amounts relating to your income-production or managing your investment are deductable and you can claim: 

  • The amounts paid for giving advice to change the mix of investment;
  • Travel cost; 
  • Specialist investment journals and subscriptions cost; 
  • Cost of borrowing; 
  • Cost of internet access; 
  • Decline in value of your computer.

You cannot Claim
You cannot claim the deduction of:

  •   Interest expense, if you use the borrowed money for private purpose;
  • Any fee for drawing up an investment plan without carrying on an investment business; 
  • Interest on money borrowed to purchase shares that are attributable to capital protection and treated as a payment for a put option.

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