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  • #966286
    gerri
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    Hi

    I have been operating a B&B out of my house for about 7 years.It’s mostly been a hobby, but now that I have retired I am taking it a little more seriously.

    I have a question re buying new small electrical appliances eg a kettle and whether a new one can be claimed as a tax deduction. I will post in the appropriate section.

    Nice to meet you

    Gerri

    #1017247
    Cesar
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    • Total posts: 591
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    Welcome to the forum Gerri,

    The best advice when it comes to Tax Deductions, is to see you tax accountant.

    Good Luck…

    #1017248
    Burgo
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    Now that you have taken the step from hobby to business you claim as much as you can towels linen soap tea coffee new jugs toasters doonas. Now Im sure you replace the towels at least once a year. even claim food for breakfast as you are supplying this for a monetary return.

    B& B are great and we often stay in them when travelling

    #1017249
    [Former] FS Concierge
    Guest
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    Hi Gerri
    Welcome to Flying Solo – I don’t think we have any other B&B owners on the boards! (And if we do, I apologise… please come and say hi folks!)

    Whereabouts is your B&B located?

    Best wishes,
    Jayne

    #1017250
    Accounts Studio
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    Hi Gerri
    Talk to an accountant about this – I think – but you need to check this out – that as your product is accommodation, you do not include GST in the price and as a result cannot claim GST in any of your expenses. Like I say, I am not an expert in the accounts for B&Bs but I do remember hearing once that this was the case. That is not to say of course that you can’t claim the expenses in your tax return – just not on a BAS.

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