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!