Attending an emergency medical conference can be a great way to learn new skills, stay up-to-date on the latest research, and network with other professionals in your field.
However, attending a conference can also be expensive! Fortunately, many of the expenses associated with attending an emergency medical conference are tax deductible. It is worth consulting with your Accountant to confirm your deductions, however we have summarised some information below.
What expenses are tax deductible?
The following expenses are tax deductible if they are incurred for the purpose of attending an emergency medical conference:
- Conference registration fees
- Accommodation
- Travel expenses (including airfare, train tickets, and car rental)
- Meals
- Ground transportation (taxis, shuttle buses, etc.)
- Other expenses directly related to the conference (such as conference materials and gifts)
How much can you deduct?
The amount of expenses you can deduct depends on the length of your trip. If you are only attending the conference, you can deduct 100% of your expenses. However, depending on the length of your trip the amount you can deduct may be pro-rated (for example, if you attend our conference for four days but stay an additional four days in NZ to holiday, only 50% of your expenses may be deductible). This is because the ATO considers the time you spend outside of the conference to be for personal purposes.
Keeping track of your expenses
In order to claim a tax deduction for your expenses, you must keep accurate records. This includes receipts, invoices, and any other documentation that shows the amount and purpose of your expenses. You should also keep a travel log that includes the dates of your trip, the purpose of your trip, and the names of the places you visited.
Consulting with an accountant
If you have any questions about whether or not an expense is tax deductible, you should consult with an accountant. An accountant can help you determine if you qualify for a deduction and can help you keep track of your expenses.
The team from Everest Wealth often present at our conferences and can direct you to excellent Accountants if you would like an introduction! EVEREST WEALTH WEBSITE
If you wish to read further on this, the ATO website is also very helpful: ATO WEBSITE
Attending an emergency medical conference is a great way to learn new skills, stay up-to-date on the latest research, and network with other professionals in your field. By keeping track of your expenses and consulting with an accountant, you can ensure that you are able to claim all of the tax deductions that you are entitled to.