360Private

Wed04Jan2017

Motor vehicle deductions

Tax & Accounting Deductions

Whilst travel between your home and workplace is usually considered private and therefore not claimable, there are a few exceptions.


A few such exemptions can ocur when:

  • Your home is considered a place of employment meaning you are travelling between two places of employment.
  • You start work from home and later travel to the office e.g. a consultant who meets clients at home and is required to attend the business premises from time to time.
  • The nature of your work requires you to carry bulky equipment which would be impracticable to transport under other circumstances e.g. a masseuse visiting clients and transporting the massage table.
  • Your work activities mean that your destination upon leaving home each day is frequently changing e.g. a sales person who leaves home and travels to the premises of a client before arriving at the office.

Motor vehicle expenses incurred in the course of deriving assessable income are allowable deductions. Such expenses include petrol, oil, repairs, servicing, new tyres, lease charges, interest on a car loan and car washes and polishes. The costs of registration, third party insurance, insurance excess, comprehensive insurance and annual fees for motor associations (RAA etc) are also deductible. Licensing costs however, are not claimable, and neither are fines - so drive safe!

If you would like to talk over your eligibility to claim a deduction for your motor vehicle for work, please talk to a member of our Taxation & Accounting Team.

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    Written by 360Private

    Published: 16 April 2020

    On the 8th April 2020 the Government legislated the JobKeeper Payment measures to assist businesses impacted by Coronavirus in retaining their employees. The measure has now been further clarified with Treasury issuing an Explanatory Memorandum and Frequently Asked Questions guide, both of which are provided as links below. Considering your eligibility for the JobKeeper Payment is now even more vital, as State Governments and Federal Governments are using it as the yardstick for which eligibility to other economic relief measures is assessed. For example, the recently announced Code of Conduct for commercial leases and the SA Government Emergency Cash Grants for Small Business, both rely on a business demonstrating eligibility for the JobKeeper program. The JobKeeper scheme starts on 30 March 2020 and ends on 27 September 2020. Payment periods are measured on a fortnightly basis and the wage subsidy will be received by businesses a month in arrears, with the first payment occurring in the first week of May covering the period 30 March to 26 April (two fortnights). A business that has suffered a substantial decline in turnover can be entitled to a JobKeeper payment of $1,500 per fortnight for each eligible employee. In order for an employee to be considered eligible that individual must be paid at least $1,500 per fortnight pre-tax. Self-employed individuals, or those operating through companies, trusts and partnerships may also qualify for this payment. Currently, the two key issues in relation to your business qualifying for JobKeeper payments are: Continuing to pay your employees the minimum $1,500 pre-tax per fortnight; and Considering whether you believe you will suffer the threshold decline in turnover against a comparable period in 2019. The turnover comparison periods allow for comparison against months March through September 2019, or a quarterly comparison against quarters ended 30 June 2019 or 30 September 2019. Note that a business is only required to meet the turnover requirement once to ensure eligibility to the JobKeeper Payments, meaning a later increase in turnover will not remove the ongoing eligibility. There are two parts to the decline in turnover requirement: Determining the percentage decline threshold that applies to you (30% for businesses with aggregated turnover less than $1 billion, 15% for eligible ACNC registered charities and 50% for businesses with turnover exceeding $1 billion); and Determining if you will suffer that percentage decline. The ATO is responsible for administering the JobKeeper payment and assessing eligibility. The detailed application requirements are unknown for those businesses that anticipate a reduction in turnover but cannot yet demonstrate that against a comparable 2019 period. The Commissioner of Taxation does have discretion to consider alternative tests. More information will be available in the coming days as ATO systems are finalised. Below we have provided some helpful resources for you to consider. We strongly encourage you to contact our office for assistance or further information. We are available to assist with determining your eligibility and considering a strategy for your business. Resources: Enrol for the JobKeeper payment (from 20 April onwards) Explanatory Statement - JobKeeper Payment JobKeeper Payment - Frequently Asked Questions $10,000 Emergency Cash Grants for Small Business (South Australian measure) Code of Conduct - Commercial Leasing Principles during COVID-19 Please contact our office on 8291 2111 with any queries or requests for assistance. 
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    Written by 360Private

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    Written by 360Private

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    Written by 360Private

    Published: 26 August 2019

      360Private is partnering with Ray White Marion and Brighton to present a Property Investment Seminar on Wednesday 28 August. We invite you to attend and listen to a range of industry professionals who will present the most up to date information on assisting landlords and investors manage their portfolio and also gaining insight into how you can enter the market. Please see the attached flyer with details of this complimentary seminar and ask you to book your ticket now through EventBrite via the link below, or contact Mel Charters for any assistance or queries you may have on 8291 2111. https://www.eventbrite.com.au/e/property-investment-seminar-tickets-63616002175
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    Published: 03 May 2019

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We have relied on the Team at 360Private for accounting and financial advice for over 30 years. Their sound strategy enabled our investments to perform well even through the Global Financial Crisis and we have benefitted from their knowledge of taxation law and superannuation. On a day to day level, we are always able to get prompt replies to any accounting matters relating to our business and everything is explained in language we can understand, rather than in "accountant speak". Our children now have their own businesses too and they also rely on 360Private.

- Sandra Haese, Director, Haese Mathematics

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