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004-011 - Systems Required To Obtain A Taxation Deduction For Motor Vehicle Expenses

In this paper is a summary of the various methods that can be utilised to claim motor vehicle expenses for income tax purposes, including comments on: Employer supplied vehicle Motor Vehicle Log Books Fringe Benefits Tax Calculation of Fringe Benefits Tax utilising the Statutory Formula Method ...Read more
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In this paper is a summary of the various methods that can be utilised to claim motor vehicle expenses for income tax purposes, including comments on:

  • Employer supplied vehicle
  • Motor Vehicle Log Books
  • Fringe Benefits Tax
  • Calculation of Fringe Benefits Tax utilising the Statutory Formula Method and the Actual Operating Cost Method
  • Review of the treatment if the taxpayer is self employed or in a partnership
  • Business usage of less than 5,000 kilometres per annum
  • Business usage of more than 5,000 kilometres per annum