Car Expenses
Buying a Motor Vehicle - Sole Traders
There are different Tax & GST treatments depending on the type of can you purchase
Cars
These are motor vehicles which are designed to carry both:
-a load less than one tonne
-fewer than 9 passengers
Examples: sedan, SUV
Other Vehicles
These are vehicles which ARE NOT designed principally to carry passengers
Examples: van, single cab ute
Depreciation limits DO NOT apply
Some vehicles i.e. dual cab utes can be either a Car or Other Vehicle so the specifications need to be reviewed
If unsure as to what type of vehicle you are buying speak to your accountant BEFORE buying it
... read moreJune 2023
Topics Include
- The 2023-24 Federal Budget Highlights for Individuals, Small & Medium Business, and Superannation
- 2023 Year End Tax Planning Guide
- 2023-2024 Tax Return Checklist
... read more
ATO Tax Time Information - Car Expenses (D1 & D2)
Choose from 2 methods
Method 1 = Logbook
Method 2 = Cents per kilometre
Buying a Car
IMPORTANT: If unsure as to whether your vehicle / dual cab ute is an exempt vehicle please contact us BEFORE purchasing it
... read moreATO Tax Time Information - Self-education Expenses (D4)
General expenses eg course fees and books
Depreciating assets eg laptop
Car expenses
Car Expenses - which trips are claimable as work / business trips
Which trips are claimable as work / business trips?
... read more