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Work related car expenses

July 10, 2016

 

Did you know the rules regarding work related car expenses has changed for the 2016 financial year?

 

There are now only two methods to work out your car expenses:

- cents per kilometre or
- logbook.

 

Both methods require you to know or estimate your business kilometres. You can use the one that gives you the largest deduction or is most convenient.

 

For any taxation advice call us on 07 5536 1960

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