A high proportion of the working Australians would at some point have to do a bit of driving around for work relating purposes. In most cases, to and from work is private in nature (not claimable), however, kilometres driven for income producing activities (for example: travel to training, courses, meetings, stock pick up/drop off, visit clients etc) can be a claimable deduction. A high proportion of the working Australians would at some point have to do a bit of driving around for work relating purposes. In most cases, to and from work is private in nature (not claimable), however, kilometres driven for income producing activities (for example: travel to training, courses, meetings, stock pick up/drop off, visit clients etc) can be a claimable deduction.
The question you need to ask yourself, do you travel more than 5,000 km business during the financial year for your job? If so, have you completed a motor vehicle logbook for 12 weeks?There are 2 methods of claiming Motor Vehicle expense, either the cents per kilometre method or the log book method.
If you have completed a log book for 12 weeks then you can claim the following at the percentage of work related travel:
- Fuel
- Insurance
- Registration
- Maintenance and repairs (eg: Tyres, services, cleaning etc)
- AND MUCH MORE!
If your unsure with your legal entitlements with regards to your motor vehicle claims please give ABA Tax to arrange an appointment.