Car Tax Deduction
July 10th, 2008
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Question: can you claim monthly car repayments as a tax deduction using ABN and log book?
Answer: Yes you can, but only if the vehical is primarily for your business, eg if you are plumber or consultant and you have records of the need to use the vehical in everyday business use.
see http://www.ato.gov.au/businesses/default.asp?menu=570
see also
http://www.ato.gov.au/businesses/content.asp?doc=/content/45586.htm&page=8&pc=&mnu=33561&mfp=001/003&st=&cy=
Having an ABN does not always mean you are business though. I believe you need to be over a certain income or turnover amount before you can have a business deduction.
Items on Amazon Right Now for Car Tax Deduction:
Free electronic tax filing begins Jan. 23
LEXINGTON – The Lexington Volunteer Income Tax Assistance Coalition (VITA) campaign is gearing up for another tax season. VITA is encouraging taxpayers to check out the earned income tax credit, which is a tax credit available to many low and moderate income working families and individuals.
Free Electric Car Tax Credit and Car Demo!
Posted in 
Tags: