009. Tax Bite: Car Expenses - The Logbook Method
03/04/20 • 20 min
Welcome to Small Business All Figured Out - The Tax Bite Edition.
These Tax Bites are created for you, the individual taxpayer, to give you tax tips and tools to help you prepare for Tax Time 2020 in Australia. This Tax Bite Edition is hosted by Registered Tax Agents and CPA’s Sheryl Cole and Corinne Cole.
Special Tax Bite episodes will be happening in the lead up to tax time 2020 to help you prepare for tax time and get the inside scoop as to what you can and can’t claim on tax and what documentation you need to ensure your claim holds up in an ATO audit.
In this episode, we're talking about how to use the Log Book Method to claim your car as a tax deduction.
In this episode, we cover:
- What the definition of a car is, as per the ATO
- What trips qualify as work-related travel
- How the logbook method actually works and the details you need to record for work-related travel
- The receipt evidence that must be kept when using this method
- How long a logbook lasts and when you need to start a new one.
You can learn more about the show's hosts, Corinne Cole and Sheryl Cole at:
Welcome to Small Business All Figured Out - The Tax Bite Edition.
These Tax Bites are created for you, the individual taxpayer, to give you tax tips and tools to help you prepare for Tax Time 2020 in Australia. This Tax Bite Edition is hosted by Registered Tax Agents and CPA’s Sheryl Cole and Corinne Cole.
Special Tax Bite episodes will be happening in the lead up to tax time 2020 to help you prepare for tax time and get the inside scoop as to what you can and can’t claim on tax and what documentation you need to ensure your claim holds up in an ATO audit.
In this episode, we're talking about how to use the Log Book Method to claim your car as a tax deduction.
In this episode, we cover:
- What the definition of a car is, as per the ATO
- What trips qualify as work-related travel
- How the logbook method actually works and the details you need to record for work-related travel
- The receipt evidence that must be kept when using this method
- How long a logbook lasts and when you need to start a new one.
You can learn more about the show's hosts, Corinne Cole and Sheryl Cole at:
Previous Episode
008. The Importance of Bookkeeping
Welcome to Small Business All Figured Out.
In this episode, Sheryl and Corinne discuss the importance of bookkeeping and how it gives your business a competitive advantage.
We talk about:
- What bookkeeping is
- An outline of some of the benefits of a professional managing your bookkeeping
- What accounting software is and the benefits of using software
- How all of this translates into a competitive advantage for your business.
You can learn more about the show hosts, Corinne Cole and Sheryl Cole at:
Next Episode
010. Marketing Strategy Versus Marketing Tactics
In this episode, Sheryl and Corinne discuss Marketing Strategy versus Marketing Tactics, to help you understand the difference and how to effectively implement in your business to give your business a competitive edge.
We talk about:
- What marketing is;
- Why your business needs marketing; and
- Understanding the difference between Marketing Strategy and Marketing Tactics.
If you'd like help with your marketing strategy or assistance with the best tactics to implement that will work best for your small business, then please get in touch with us at platinumaccounting.com.auYou can learn more about the show hosts, Corinne Cole and Sheryl Cole at:
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