Question 9 - Can I Claim My Motor Vehicle Expenses?
The answer to this question will all depend on:
- The type of business structure you use
- How much you use the vehicle for business purposes
- If the vehicle has a carrying capacity of over 1 tonne
In the majority of cases, if you use your motor vehicle to travel between jobs, to visit customers and suppliers you will be entitled to some form of tax deduction and there are a number of different methods of claiming motor vehicle expenses including the log book method and cents per kilometre method.
In the resources section of our website we have published the Motor Vehicle Tax Guide that explains all the options and what is considered a business trip. You can download a copy and we also invite your call to discuss how you can maximise your claim for car and vehicle expenses.
OTHER QUESTIONS IN THIS SERIES:
- What Steps are Involved in Starting a Business?
- Do I Have to Register for GST?
- What Tax Records Do I Need to Keep for My Business?
- What Is a Business Activity Statement?
- What’s the Difference Between an ABN and an ACN?
- Do I have to include GST on my Invoices?
- What Software do You Recommend for My Start-Up Business?
- How Much Tax Do I Pay?
- What Do I Need to Do When I Employ My First employee?
- Whats The Most Appropriate Tax Structure For My Business?
- Are You Small Business Experts?
- How Much Do You Charge?
- How Do I Change Accountants?