Best Car Logbook Apps in 2022
Using your vehicle for business purposes and looking for the best
Motor Vehicle Expenses: What Every Tradie Needs to Know
If you drive your car to generate income, you have a chance to earn money back on your tax return. It’s in your best interest not to squander it. Paying out of pocket for your motor vehicle expenses can be budget-draining. Especially if you cover a handsome mileage as a tradie, a handyman or an […]
GOFAR partners with Transurban to conduct massive Eco-driving trial 2022
With an overall fuel efficiency improvement of 5.5%, the trial has shown that eco-driving concepts have merit and can deliver meaningful fuel consumption savings, and therefore GHG emission reduction. While passenger vehicles have become increasingly fuel-efficient over time, there appears to be merit in actively promoting eco-driving now versus simply waiting for cars to get more […]
WHAT IS THE CRA LOGBOOK METHOD?
The Canadian Revenue Agency (CRA) allows people to claim the use of their car for work as a tax deduction. One of the allowable ways to claim is by the ‘logbook method’. The logbook method allows people to claim a % of all of their vehicle expenses based on how much the vehicle is used […]
WHAT IS THE CRA CENTS PER KM ALLOWANCE FOR 2021?
The Canadian Revenue Agency (CRA) allows people to claim the use of their car for work as a tax deduction. The CRA reviewS the rates regularly but they remain unchanged since last year 2020. The 2021 allowance rates are: 59 cents per km for the first 5,000km Plus 53 cents per km from 5,001km and […]
WHAT’S THE ATO CENTS PER KM RATE FOR 2022-2023?
The Australian Taxation Office (ATO) allows people to claim the use of their car for work as a tax deduction. The rates are reviewed regularly and they applied a new rate for the 2021 and 2022 tax years. The rate for 2022/23 is: 78 cents per km for 2022/23 The ATO allows people […]
FAQs About IRS Mileage Deductions 2021
What Is the IRS Standard Mileage Rate in 2021? If you choose to use the Standard Mileage Rate method of deduction set by US Government Agency, the Internal Revenue Service (IRS), you will use the following rates for deduction: Business mileage at 56 cents per mile Medical miles at 17 cents per mile Charity miles at [...]
What is the Standard Mileage Rate for 2021?
In the United States, the Internal Revenue Service (IRS) has a standard mileage rate that is used to calculate deductible expenses for running a car. The rate is specifically computed to help people who regularly drive for business purposes to calculate their costs and then deduct them from their taxes. The Standard Mileage Rates include [...]
NEW ATO CENTS PER KM RATE FOR 2021
The Australian Taxation Office (ATO) allows people to claim the use of their car for work as a tax deduction. The rates are reviewed regularly and there is a NEW rate for the 2021 and 2022 tax years. The rate is: 72 cents per km for 2020–21 and 2021–22 The ATO allows people […]
How to Use a Mileage Tracker as a Shipt Shopper
Did you know that nearly half of American workers have a side hustle? This is in addition to their regular full-time or part-time positions. A side hustle can help you make ends meet, have more disposable income, or have more to save. One of the easiest side gigs that almost anyone can do is working […]