Tax Deductions for Ansett Golden Wing Life Members

Discussion in 'Open Discussion' started by edcba, Sep 27, 2004.

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  1. edcba

    edcba Intern

    Apr 27, 2004
    81
    2
    0
    Sydney
    Has anyone succeeded in getting a 'bad debt' tax deduction for loss of prepaid membership privileges or frequent flyer points?
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  2. willyroo

    willyroo Junior Member

    Jan 14, 2003
    37
    0
    0
    Airline Lounge Membership
    The ATO generally allows deductions for airline lounge memberships, since the facilities provided are primarily business related. If you've paid a life membership, your accountant probably apportioned the cost over 5 or 10 years. So if you paid $2,000, and your accountant has claimed $400 of this, the balance remaining ($1,600) should be immediately written off for tax purposes. If you haven't claimed any tax deductions for your lounge membership, then talk to your accountant.
    Frequent Flyer Points
    No tax deduction is available for lost or forfeited points.
     
  3. arun

    arun Member

    Sep 5, 2002
    311
    0
    0
    Sydney
    As you do not get taxed for earning FF points, you can not claim tax deduction for the same!
     
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