Hi all... just wondering if the running expenses for running a Dual Cab Ute (running on LPG) is fully Tax deductible, or do you still have to run a log book system?
Hi all... just wondering if the running expenses for running a Dual Cab Ute (running on LPG) is fully Tax deductible, or do you still have to run a log book system?
If it's a dedicated work ute with business signage etc, it should be 100%. Take an odometer reading at the beginning/end of financial year to give you your kms travelled (if that's how you're calculating vehicle costs for tax purposes).
Ciao for now ~ Christine
senior partner of "Townsville Lawn Care"
"Twin Cities Lawncare" was re-named in 2008
due to the amalgamation of two local councils -
Due to confusion of previous/current business name,
I'm opting to post in here as Christine Wharton now
if you run a log book for 3 mths you should be fully covered as far as the tax man goes
Anything Ian says may or may not be garbage, it may also be his own opinion or it may not be his opinion at all, it may just be something he felt like stating anyone following his advice does so at their own risk and may be doing something Ian would actually advise against.
And if you don't like what Ian has to say use the ignore function if you don't know how ask i will gladly tell you
Does the dual cab ute have a One Tonne payload?
If you claim the legal towing limit, prime mover and tailer, I figure if you use it commercial it should be in the same class as a tripple deck road train stock crate - good for about 60 tonnes - equal to a well loaded 6 X 4.
If Taxman takes you to court I will represent you.
My rates are commensurate with my ability.
"The lowest in the business"
lol... Good one!!
If you have a second vehicle in the family (ie wife) it will be easy to claim it 100% business use, just run a log book to make sure though as you know what the tax man can be like, its pays to be sure. Either way run a log book for 3 months and claim the % of business use, all costs, rego, insurance, depreciation etc, and maybe even talk to your accountant one day - he can explain it for you
standard wife cars is a simple 30 % use , have been audited and taxman says cool ... 100% for the yte and standard 30 % for secouind vehicle ..no log book required but can only claim on 30 % on all running expenses.,...
I just use the one vehicle for private and business use I kept a log book for 9 months from the time I started and I chose the best three months which worked out to 82% business use So I can claim 82% on all cost repairs insurance racq, petrol ect.My Accountant tells me this is valid for 5 years.
Has anyone else been audited Does the tax man target our industry due to the large cash component, I have declared everything but it will be interesting to know if i can expect a audit.Originally Posted by geoff