Is the taxpayer entitled to a deduction under section 8-1 of the Income Tax Assessment Act 1997 (ITAA 1997) for travel expenses incurred to attend a company Annual General Meeting (AGM)?
Decision
Yes. The taxpayer is entitled to a deduction under section 8-1 of the ITAA 1997 for travel expenses incurred to attend a company AGM.
Facts
The taxpayer has an investment portfolio that includes a shareholding in a company.
The taxpayer earns dividend income from their shareholding in the company.
The taxpayer intends to incur travel expenses to attend the AGM for the company.
GXY Price at posting:
$2.77 Sentiment: Buy Disclosure: Held