Logbook Method: How to Claim Car Expenses From the ATO Posted on January 17, 2024 The easiest and most ‘profitable’ way to claim car expenses from the ATO is by using the logbook method. To do this you can either slog through the effort of a spreadsheet or paper logbook. Tedious! Or use GOFAR (best option) to record the kilometres travelled, add up your car expenses, work out your claim […]
ATO Mobile Apps: 3 Key Features That Set the Best Ones Apart Posted on December 13, 2023 Any Australian driver who’s serious about maximising their tax savings needs an ATO-compliant logbook. Otherwise, they risk submitting inaccurate records that could not only get their deductions rejected but they may also get penalised in some cases. Yet, a good car logbook app is hard to come by. It’s like looking for a needle in […]
Logbook Method Vs Cents Per KM Method: How to Decide Posted on December 6, 2023 Which method are you using to track your car expenses? The logbook method or the cents per km method? If you use your vehicle to travel a lot for business, then you probably cover many business kilometres per year. If that’s the case, you spend a lot on fuel, repairs, and service. What’s more, your […]
Updated: ATO CENTS PER KM RATE FOR 2022-2023 Posted on November 28, 2023 The Australian Taxation Office (ATO) allows people to claim the use of their car for work as a tax deduction. Their rates are reviewed on a yearly basis, so it’s important that you stay up-to-date with the latest rates. The new ATO cents per KM rate for 2022 and 2023 tax year is: 78 cents […]
Demystifying the CRA Logbook Method: Navigating Car Mileage Rates Posted on October 21, 2021 The Canadian Revenue Agency (CRA) allows people to claim the use of their car for work as a tax deduction based on their car mileage rate. 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 […]
WHAT IS THE CRA CENTS PER KM ALLOWANCE FOR 2021? Posted on October 21, 2021 The Canadian Revenue Agency (CRA) allows people to claim the use of their car for work as a tax deduction. The CRA rate is reviewed regularly but it has remained 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 […]
How to Use a Mileage Tracker as a Shipt Shopper Posted on May 2, 2020 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 […]
How to Use Waze as a Mileage Tracker Posted on March 30, 2020 What is Waze? Waze is a free, ad-supported navigation app designed to make driving more efficient. It uses your phone’s GPS and social media-based crowdsourcing to find routes, and provide you with real-time traffic information. Waze allows users to share information such as traffic conditions and anything else that might impact driving. Because Waze uses […]
How to Choose the Best Mileage Tracker App for Uber and Lyft Posted on March 27, 2020 For Uber and Lyft drivers, accurate mileage tracking and reporting are essential. One of their major sources of income is through their mileage deductions. This is where a vehicle tracker comes in handy. Tracking deductible business mileage is notoriously difficult. Especially for individuals who rack up a lot of miles as part of their job like truck […]
How to Use A Mileage Tracker for Shipt and Earn Money Posted on March 23, 2020 What is Shipt? Shipt is a membership-based grocery marketplace that provides same-day delivery of fresh food and household essentials to its subscribers. Members can place their orders either through a smartphone app or the Shipt website. Members place orders from various retailers, which are then fulfilled by a Shipt Shopper and delivered to their doorstep. […]