1. Most Discussed
  2. Gainers & Losers
  1. Members, Techs apologise for the loss of thread titles, and are currently working on restoring them. They will be back asap. Thank you


  1. chookiewookie

    1,380 Posts.

    Hi there, I have a query which I don't think many will be able to answer, but just looking for anyone who has been in the same situation; looking for pointers for info etc.
    The ATO rulings are vague and generally unhelpful, so perhaps next step will be an accountant specialising in SMSFs.

    I have a SMSF, I am the sole member and my company, of which I am the director, is the trustee of the SMSF. Many SMSFs will be set up in the same way.

    My question is about allowable expenses incurred in managing the fund. I understand that as director, or as the company, I can't claim costs - ie , I can't claim a wage for acting as the trustee, for instance. If I were to, for instance, hold a substantial holding in a company (as in literally be a subst holder) and 'need' to attend the AGM, would that now be a legitimate deduction?

    Personally, I think the ATO rulings suggest that yes it probably would be - personally - but in a SMSF??? It gets murky. There is some info on the ATO website which suggests that a SMSF, like any taxpayer entity, is entitled to claim legitimate admin and investment expenses....

    and on that note, can anyone quickly tell me the difference between capital and revenue expenses.

    thanks in advance anyone !

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.