rent a house under company's name

Discussion in 'Accounting & Tax' started by charlie01, 27th Dec, 2008.

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  1. charlie01

    charlie01 Well-Known Member

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    14th Oct, 2015
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    Australia
    I'm going to work in another city for several months. I wonder if I can rent a house there under my company's name so the rental cost can be treated as part of company's cost.

    Thanks in advance.
     
    charlie01, 27th Dec, 2008
    #1
  2. Sacko

    Sacko Well-Known Member

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    Central Coast, NSW
    Alternatively, consider the LAFA (Living Away From Allowance) which turns your rent into a tax deductible expense - check out the ATO site for full details...
     
    Sacko, 5th Jan, 2009
    #2
  3. Joe D

    Joe D Member

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    Perth

    No problem. One of my properties is often leased to various Companies on short to medium term leases.

    Joe D
     
    Joe D, 6th Jan, 2009
    #3
  4. Rob G

    Rob G Well-Known Member

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    Melbourne
    Assuming you aren't deriving Personal Services Income ...

    The company can claim payment for your expenses.

    To the extent they would not have been deductible to you, there may be Fringe Benefit Tax for your employer.

    Alternatively, paying you a travel allowance for an extended period could be treated as a Living Away From Home Allowance fringe benefit.

    Cheers,

    Rob
     
    Rob G, 11th Jan, 2009
    #4