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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.