Tax Deductions for Ansett Golden Wing Life Members

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edcba

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Has anyone succeeded in getting a 'bad debt' tax deduction for loss of prepaid membership privileges or frequent flyer points?
 
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willyroo

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Jan 14, 2003
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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.
 

arun

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