Common car expense claim questions answered, with the logbook method and the cents per kilometre method of claiming.
When claiming for work-related car expenses, many taxpayers miss out on maximising their claim due to inadequate record keeping. But also, failing to maintain a valid car log book can cost taxpayers dearly in an ATO audit. The car log book is an important piece of tax substantiation for those who use their vehicle in
The ATO’s Assistant Commissioner Kath Anderson has sounded a warning for taxpayers who are making what they may believe are “standard” deductions in regard to vehicle expenses, especially when it comes to the cents per kilometre method. ATO warning for your clients with work-related car claims While it is true that written evidence for deductions