5 Questions to Plan for Profit in 2016 qu 5

Question 5: Retreats (12:36)

BEN: Yes, yes, and you might look at this as an excuse to go somewhere lovely, but it’s exactly what we’re talking about at the start, where Stevie and I and Harvee went away for a couple of days with the sole focus of relaxing and also working on the business. Yeah, taking ourselves away from our normal working and home environments. What we did is, how many of these retreats do we want each year? We’ve also booked in some time to take them. I reckon they’re so powerful and Harvee’s going to share one of the two big things shortly, that we made a decision on for this year. That wouldn’t have happened undoubtedly, if we weren’t in Northern New South Wales, surrounded by some lush green fields of grass. Yeah.

HARVEE: That’s so funny. For everyone who knows what’s common in Northern New South Wales, it’s not what we were talking about. Very cool. Just on those retreats, what is the tax implications of that? We went away, spent four days, we spent however much money what was invested in that side of things. We were working on the business specifically, but also having a bit of fun. What are the tax implications, is there another benefit or justification in taking these retreats from a tax perspective?

BEN: Yes, being careful. Part of those retreats is what you can claim. The part is, there might be a blog article on very shortly.

HARVEE: Yeah, awesome, cool, thanks very much for that. If in doubt, seek advice from your taxation professional and make those decisions wisely. Any other things you wanted to mention Ben before we move on at the end of our webinar today?

BEN: Yeah, I think that’s, we’re all good to keep moving.

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