The Australian Taxation Office (ATO) has released a motor vehicle expense fact sheet for the use of small businesses, to answer common questions about:
- types of motor vehicle expenses taxpayers can claim
- methods taxpayers can use to calculate their claim
- private use of a business car
- whether a taxpayer’s vehicle is considered to be a car, and how this affects their claim
- record keeping requirements.
Motor Vehicle Expense Fact Sheet
If the Fact Sheet raises questions for you or you would like more information about how it applies to your specific circumstances, please call or email us today! We’re happy to help.
