PJ. Your accountant is obviously the best aviation accountant because he told you that you can deduct your endo legally. Others say different, at the end of the day when someone gets an audit its the ATO and AAT that will have the final say. I'm not saying that will go either way, i'm just saying that my adviser has raised enough doubt so as to proceed with caution and if you expect to lose, if audited, you won't be dissapointed.
SN
You may be right I'm the first to admit I'm no tax accountant. And if, as one of the most highly taxed citizens in the world, you choose to give the Federal Government an extra $15-19k, that's your perogative. Personally I think that money looks better as a Ducati.... Hmm, maybe not. ...Just a second......Yeah, no it definately looks better as a Ducati
But consider that if you do claim for a rating then you're certainly not Robinson Carusoe either. Many many many people have made claims, some have been audited, none are in jail (
). Does the ATO reserve the right to change their mind on the matter? Of course they do. Just as CASA reserves the right to pull AOC's, Licences etc. Although I would suggest that after all these years there may be a statute of limitations issue if they (ATO) did? Then again why wouldn't they allow a rating as a deduction? A job requiring a $30k Jet rating would have you paying around $20-30k / year to the ATO in income tax as an FO.
