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 […]
What Is the ATO Travel Allowance per KM Rate for 2022-2023? Posted on November 23, 2023 The Australian Taxation Office (ATO) allows you to claim the use of your car for work as a tax deduction. But are you aware of what the updated ATO travel allowance cents per KM 2023 is? The rates are reviewed regularly and the ATO applied a new rate for the 2022 and 2023 tax years. […]
Working the ATO Logbook Method with a Car Expenses Cheatsheet Posted on November 23, 2023 Do you use your personal car for business most of the time? If so, the ATO logbook method will help you boost your tax refund. Our Top Tax Refunding GOFAR Subscriptions Try the GOFAR app today ⭐⭐⭐⭐⭐ Perfect for drivers who want to maximize their tax reimbursements. Automatically records every trip to Classifies business trips […]
Ultimate Guide to Work Related Car ATO Logbook Expenses Posted on November 20, 2023 2018 was the year in which Australian Taxation Office (ATO) planned
Best Logbook Apps for Aussies Posted on September 17, 2023 Using your vehicle for business purposes and looking for the best
ATO Cents Per KM Method: How to Maximise Your Tax Return 2023-2024 Posted on September 17, 2023 Are you familiar with the ATO’s cents per KM method? In 2023-2024, you can be reimbursed by the Australian Tax Office for $3,000 or more, based on your car expense deductions. $10,000, and more, is available to some people. A considerably attractive sum, don’t you think? It’s money you could spend on a holiday this […]
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 […]