Want to save money on motor vehicle expenses…?

If you need to pay parking fees or tolls when using your car or vehicle for work-related purposes, you can claim deductions for it!

However, this doesn’t include parking near your regular place of work, or tolls between travelling between your home and work. Any fines incurred between the travel from home and work, will also not allow for claims.

Additionally, you may be able to claim deductions for the costs associated with getting a special license for your work. This does not include your regular driver’s license.

If you get into an accident in the course of your employment, you may be able to claim a deduction for the cost of repair or compensation for your own motor vehicle, as well as third-party vehicles involved.

 

All information was sourced from ato.gov.au

As always, feel free to reach out to us if you need any help with your taxation!