If you stick to the rules and use the logbook method for claiming your car expenses, you can maximise your tax refund without having to worry about the ato. So, what are vehicle expenses in the eyes of the ato when using the logbook method. Do you have a logbook to verify your motor vehicle tax deductions. Send your log directly to your employer, accountant or tax agent. The ato deemed the logbook as invalid, which put the business use at 0%. A log book record of car trips doesnt need to be kept for the whole year. Motor vehicle log book this standard uwa log book was created following recommendations made to australian government departments by the australian taxation office in their publication administration of fringe benefits tax better practice guide february 2006. The best five car logbook apps, designed for aussies, and compliant with ato requirements are. A vehicle log book is an important piece of tax substantiation for people who use their car for work. To work out your businessuse percentage, you need a logbook and the odometer readings for the logbook period. Date duration of trip odometer reading total km travelled purpose of trip additional information optional start time finish time start finish name of driver date entered signature. The logbook period is a minimum continuous period of 12 weeks. Workrelated car and travel expenses also include the cost of trips. The problem is, it can be hard to wrap your head around all the logbook keeping rules.
Ato vehicle log book is fully compliant with australian tax office requirements where the logbook method is used to claim the percentage business use of a vehicle. Most people will be familiar with the two main instances where a vehicle log book is required. Ato vehicle logbook for ios free download and software. Unfortunately i used it for last years motor vehicle expenses but the log book. Log book requirements for two or more cars, the log books must cover the same 12 week period. The ato app puts tax and super help in your hand, making it easier for you to. You can only claim depreciation on the business portion of the motor vehicle s cost. In the interpretive decision, the employer kept the following records. Depreciation of the motor vehicle if you use the logbook method, you can generally claim depreciation, or decline in value, of the motor vehicle. If the vehicle is a car, theres a limit on the amount you can. As per ato id 20031099, the commissioner can exercise discretion to waive the strict log book requirements.
Purpose of journey name signature of driver optional start end start end business private. How to claim your car expenses the car logbook method. Inadequate records can also cost dearly if you are audited by the australian tax office ato. Ota vehicle log book template online tax australia.