Do you claim motor vehicle expenses?

September 4, 2018


Many of our members use one or more vehicles in their business. If you want to claim motor vehicle expenses, make sure you keep the right records. The records you need to keep will depend on the method you choose to calculate your expense claim.


Before you can claim motor vehicle expenses, you need to select a method to calculate your claim so you know which records you need to keep. You can use different methods for different vehicles and can change methods from year to year.


You can use the ATO's Work Related Car Expense Calculator to work out your eligibility and calculate your claim under each method.


The two methods

From 1 July 2015, there are two methods you can use to calculate your motor vehicle expenses:


Records required

Regardless of the method you use to calculate your motor vehicle expenses claim, you will need to keep:

  • ownership, or loan or lease details

  • details of how you calculated your claim.


More information

To find out more, watch the ATO's motor vehicle deductions webinar. Contact the ATO or speak to your tax accountant.


Please note that this blog post is not intended to provide any tax or accounting advice.


Please reload

Featured Posts

I'm busy working on my blog posts. Watch this space!

Please reload

Recent Posts

February 13, 2019

Please reload

Please reload

Search By Tags
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Social Icon

© 2019 by The Marulan Region Chamber of Commerce Inc.

  • Black Facebook Icon
  • Myspace Social Icon

Proudly created by DMC Solutions in Marulan.