C: Lotsuite Amipro Docs Standard Motorveh Mvexp.S

IS MY MOTOR VEHICLE SUBJECT TO THE INCOME TAX SUBSTANTIATION PROVISIONS?

If the answer to any of the above questions is 'yes', then your vehicle is likely to be excluded from the substantiation requirements for motor vehicles. It will be necessary to keep evidence to show how the answers were arrived at.

If the answer was 'no' to all of the above questions, your vehicle may be subject to full substantiation. Full substantiation consists of retaining documentary evidence for certain types of expenses; depending on the method chosen to claim vehicle expenses as a tax deduction in your tax return. (Refer below).

Used in the prescribed exempt manner

If the vehicle referred to at question 4 above is used for a purpose other than:

a)Producing assessable income;

b)Travel between home and work; or

c)Travel incidental to the use of the car for production of assessable income,

d) Private travel that was minor, infrequent or irregular

the car is deemed not to be used in an exempt manner for the whole year of income and is therefore subject to the substantiation provisions.

An example of incidental travel referred to above includes picking up the paper on the normal route to work but would not include detours to drop children off at school.

EXEMPT USE OF CERTAIN COMMERCIAL VEHICLES WHICH WOULD OTHERWISE BE SUBJECT TO THE INCOME TAX SUBSTANTIATION OR FRINGE BENEFITS TAX PROVISIONS

DECLARATION OF USE

Type of Vehicle: ______

Refer to the 4 questions above

Make and Model:______

Carrying Capacity:______Rego:______

Name of Driver:______

Main Use:______

(Refer Note 1.)

______

I, declare that during the period (Refer Note 2), I used the above vehicle in the prescribed exempt manner, for the whole of the year of income.

The Vehicle was not used for a purpose other than:

a)Producing assessable income;

b)Travel between home and work; or

c)Travel incidental to the use of the vehicle for production of assessable income(Refer Note 3)

d) Private travel that was minor infrequent or irregular

......

Signature

Dated this ...... day of ...... 19

Note 1: Main Use. For example: Transportation of substantial equipment, tools and products to customers.

Note 2: 1 July to 30 June - Income Tax Purposes

1 April to 31 March - Fringe Benefits Tax Purposes

Note 3:Incidental Travel. An example of incidental travel referred to above includes picking up the paper on the normal route to work but would not include detours to drop children off at school.

MOTOR VEHICLE EXPENSES

Alternative Methods for Claiming

a)Set rate per kilometre: 5000 business kilometres.

b)12% of cost price of vehicle: More than 5000 business kilometres.

c)One- third actual expenses: More than 5000 business kilometres.

d)Actual business expenses: No kilometre limit.

Please provide the following information:

1.Full purchase details of any vehicle acquired or disposed of during the year.

2.(a) How you calculated the distance travelled for business or work related purposes - methods a), b) and c) only.

OR

(b)The business percentage shown in your log book - Log book must be less than 5 years old - method d) only

3.Odometer reading 30 June - For methods c) and d) only.

4.Full details of loan or lease agreement for vehicle (copy of agreement has all the details). Methods c) and d) only.

5.Amount spent on petrol and oil per receipts, or an estimate of cost based on the number of kilometres travelled, your car's consumption and the average cost of fuel.

$

Interest on vehicle loan ______

Leasing______

Depreciation______

Registration/pink slip ______

Compulsory third party ______

Other Insurance ______

Repairs and maintenance ______

Petrol/oil ______

NRMA subscription ______

Vehicle wash ______

Garaging ______

TOTAL

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note;

1.Parking fees and bridge tolls do not qualify as car expenses and may be 100% deductible even if the car expenses are only partly deductible.

2.An ordinary class of Drivers Licence is not deductible.

MOTOR VEHICLE ODOMETER RECORD

CAR REGO: ______CAR MAKE AND MODEL:______ENG. CAPACITY ______

THE LOG BOOK MUST BE KEPT FOR 12 CONSECUTIVE WEEKS

NB: THE LOG BOOK PERIOD CANNOT BE MORE THAN 5 YEARS AGO.

FOR FRINGE BENEFITS TAX PURPOSES

READINGS MUST BE MADE ON 31 MARCH EACH YEAR AND ALSO WHEN THE VEHICLE IS PURCHASED OR SOLD.

FOR INCOME TAX PURPOSES

READINGS MUST BE MADE ON 30 JUNE EACH YEAR AND ALSO WHEN THE VEHICLE IS PURCHASED OR SOLD.

MOTOR VEHICLE LOG

THE LOG BOOK MUST BE KEPT FOR 12 CONSECUTIVE WEEKS

EXAMPLE ONLY

MOTOR VEHICLE ODOMETER RECORD

CAR REGO: BUB613CAR MAKE AND MODEL:TOYOTA CELICA ENG. CAPACITY: 2000CC

THE LOG BOOK MUST BE KEPT FOR 12 CONSECUTIVE WEEKS

NB: THE LOG BOOK PERIOD CANNOT BE MORE THAN 5 YEARS AGO.

FOR FRINGE BENEFITS TAX PURPOSES

READINGS MUST BE MADE ON 31 MARCH EACH YEAR AND ALSO WHEN THE VEHICLE IS PURCHASED OR SOLD.

FOR INCOME TAX PURPOSES

READINGS MUST BE MADE ON 30 JUNE EACH YEAR AND ALSO WHEN THE VEHICLE IS PURCHASED OR SOLD.

EXAMPLE ONLY

MOTOR VEHICLE LOG

THE LOG BOOK MUST BE KEPT FOR 12 CONSECUTIVE WEEKS