Motor vehicle expenses – how to get them right

~|elegant-themes~|elegant-themes-icon~|

April 12, 2019

The ATO has published a new factsheet on motor vehicle expenses to help small businesses get this right.

The small business motor vehicle expenses fact sheet will help you answer common questions about:

  • types of motor vehicle expenses you can claim;
  • methods you can use to calculate your claim;
  • private use of a business car;
  • whether your vehicle is considered to be a car, and how this affects your claim; and
  • records you need to keep.

If you use motor vehicles in your business, this fact sheet is for you!

Related Articles

Mortgage Repayment Relief

Mortgage Repayment Relief

Which payments can I defer?  This is available to home loans and most business loans.Deferral of payments can be in the form of:Defer both principal & interest repaymentsDefer principal repayments onlyPlease note that you can still make voluntary payments during...

read more
JobKeeper Payment for Employers & Employees

JobKeeper Payment for Employers & Employees

Overview Relevant to employers andemployees Under the JobKeeper Payment, businesses impacted by the coronavirus (COVID-19) will be able to access a subsidy from the Government to continue paying their employees;Affected employers will be able to claim a...

read more
PAYG Withholding explained

PAYG Withholding explained

Overview Relevant to all entities in business with PAYG-W obligations 1st Tranche $10k to $50k tax free payment of PAYG-W up to 30 June 2020;2nd Tranche $10k to $50k tax free payment of PAYG-W after 1 July 2020;Refund paid after all other ATO obligations have been...

read more