Danners Posted December 6, 2013 Share Posted December 6, 2013 I'm moving on a 457 - someone mentioned that I might be able to offset my rent against my income tax. Are they barking up the wrong tree? I can do it in Hong Kong, where I live at the moment. cheers Quote Link to comment Share on other sites More sharing options...
blossom Posted December 6, 2013 Share Posted December 6, 2013 No. Only work related expenses. Quote Link to comment Share on other sites More sharing options...
Guest hoffer Posted December 6, 2013 Share Posted December 6, 2013 Sorry to jump on this. What is you work from home 4 days a week? Quote Link to comment Share on other sites More sharing options...
Rupert Posted December 6, 2013 Share Posted December 6, 2013 I'm moving on a 457 - someone mentioned that I might be able to offset my rent against my income tax. Are they barking up the wrong tree? I can do it in Hong Kong, where I live at the moment. cheers No of course not. Quote Link to comment Share on other sites More sharing options...
Gbye grey sky Posted December 6, 2013 Share Posted December 6, 2013 Sorry to jump on this. What is you work from home 4 days a week? If you could work from home what would be the justification for a 457? The primary purpose of a home is to live in it anyway, not a place of work. Quote Link to comment Share on other sites More sharing options...
Alaska Posted December 6, 2013 Share Posted December 6, 2013 No of course not. Just because something is obvious to you, it would be polite to remember that it isn't to everyone else. The OP was checking info from someone else which I think is perfectly sensible considering they can do it where they live right now. Quote Link to comment Share on other sites More sharing options...
Cez Posted December 6, 2013 Share Posted December 6, 2013 If you work from home, you can claim some tax deductions, right? For Internet, electricity etc...l obviously not the whole bills, but a proportion of them? Quote Link to comment Share on other sites More sharing options...
VERYSTORMY Posted December 6, 2013 Share Posted December 6, 2013 If you work from home, you can claim some tax deductions, right? For Internet, electricity etc...l obviously not the whole bills, but a proportion of them? Correct, but it is failry small. I work from home sometimes and claim it, but its not much Quote Link to comment Share on other sites More sharing options...
paisleylass Posted December 6, 2013 Share Posted December 6, 2013 (edited) It's a reasonable question, considering that until recently rent kind of was tax deductible in a roundabout way, in the form of living away from home allowance, LAFHA. Similar to salary sacrifice, a portion of income would be exempted from being taxed as it was assumed to be for funding a second home and other expenses. Now unavailable for 457s whose other home is abroad. Edited December 6, 2013 by paisleylass Quote Link to comment Share on other sites More sharing options...
Sustain Posted December 6, 2013 Share Posted December 6, 2013 Perhaps they were thinking about LAFHA? Quote Link to comment Share on other sites More sharing options...
Danners Posted December 11, 2013 Author Share Posted December 11, 2013 It's a reasonable question, considering that until recently rent kind of was tax deductible in a roundabout way, in the form of living away from home allowance, LAFHA. Similar to salary sacrifice, a portion of income would be exempted from being taxed as it was assumed to be for funding a second home and other expenses. Now unavailable for 457s whose other home is abroad. thanks, this is probably what they were talking about Quote Link to comment Share on other sites More sharing options...
Guest peterevanson Posted February 4, 2014 Share Posted February 4, 2014 Good suggestion Paisleylass. Quote Link to comment Share on other sites More sharing options...
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