Claiming Business Motor Vehicle Expenses
There are two methods to claim work of business-related motor vehicle expenses.
There’s no one size fits all answer as to which method best suits your circumstances.
- Logbook method, where you keep a motor vehicle logbook for 12 consecutive weeks so you can establish your work-related percentage and your business travel is more than 5,000 kilometres for the year. Then you can use this percentage to claim a portion of your motor vehicle expenses for the year. You will need to keep detailed receipts to make a claim.
- Alternatively, you can claim up to 5,000 business/ work related kilometres on a cents per kilometre basis.
You still need to provide a reasonable basis on which you have come to your estimated kilometres claimed.
If you would like advise or help from a friendly professional accountant with:-
- Advise on setting up your Business Accounts and claiming for Business Motor Vehicle Expenses.
- Completing your tax return and claiming your deductions.
- Quarterly Business Activity Statement lodgement.
- Choosing the correct PAYG Instalment method on your BAS.
- Income and Tax estimates in May or June, so you can make decisions prior to 30 June to minimize your tax liability and understand what is payable and when.
- Business Planning
Phone Steve for a friendly no obligation chat about your requirements.
- Approachable and available.
- The only dumb question is the one you don’t ask.
Steve Hamilton Chartered Accountant
Looking after clients in Joondalup and the Northern Suburbs of Perth for over 20 years.Professional accounting expertise, competitive pricing & exceptional service
Find out if Steve Hamilton Chartered Accountant is right for you!
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