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tax deductions on car expenses

Tax Deductions for Work-Related Car Expenses

During the last five years, the number of Australian drivers who wanted to benefit from tax deductions for their car expenses has increased considerably. In fact, according to the latest reports, this type of claims expanded by almost 30% since 2009. Because of this, the Australian Taxation Office (ATO) decided to change the rules regarding tax deductions for this year. Consequently, many Aussies will probably receive less than what they claimed. The evolution of tax deductions for work-related car expenses In order to understand why the new rules were a necessity, Mark Chapman, who is H & R Block director […]

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