As tax time rolls around again, Uber drivers and rideshare drivers across Australia will be looking to maximise their tax deductions. This article explains the different options for claiming your vehicle expenses, how to keep a logbook, as well as a range of other potential tax deductions for rideshare drivers. Motor Vehicle Expenses There are two different methods available for claiming motor vehicle expenses, the Logbook Method and the Cents Per Kilometre method. You can choose whichever one gives you the biggest tax deduction. Megarry And Wade The Law Of Real Property Pdf To Word.

Let’s take a look at these two methods in detail. Logbook Method If you have kept a valid logbook, you can claim a percentage of your vehicle running expenses, including: • fuel • registration • insurance • servicing, repairs, tyres and other maintenance costs • cleaning costs • depreciation on the purchase price of your car (if you own your car) • interest (if you have a loan on your car) • rental/hire/lease fees (if you lease/rent your car) If you wish to claim these expenses you MUST have a valid logbook. We’ll explain the requirements for a logbook in more detail below. The records you’ll need to keep for your car expenses are: • Fuel – fuel receipts are the best form of evidence, so we suggest keeping an envelope in your glovebox to collect these. If you don’t have receipts, the ATO will accept your bank statements as evidence. • Other Running Costs – you’ll need receipts or bank records of your registration, insurance, servicing, repairs, tyres, maintenance, cleaning and other costs • Car Washes – if you don’t get a receipt for your car washes, the ATO will accept a diary note or other handwritten note with the date and amount of your car wash.

I have over 15 years of accounting experience, 9 of which have been running my own book keeping and child minding businesses. I know what it is like to juggle the daily challenges of running your own business and also know how difficult it can sometimes be. That's why I launched Bookkeeping for Taxi Drivers a friendly,. Entering the data in this self employed taxis & van driver book keeping software as simple as entering your purchases on to a excel book keeping spreadsheet.

Keep a little notebook handy in your glovebox to write these down. • Depreciation – you’ll need the tax invoice or purchase details of your car, so that depreciation can be calculated • Interest – if you have a loan or finance, you’ll need to find out how much interest you paid (not loan repayments, just the interest) for the financial year. If you don’t have this, you will need to supply us with your original loan documents showing the amount borrowed, repayments, term of the loan and interest rate. • Lease Payments – if you lease your car, the whole amount of your lease payments are deductible • Logbook – to claim all of the above expenses, you must have a valid logbook. Otherwise your car expenses are irrelevant and you’ll be limited to the cents per kilometre method. Please note that the ATO will accept bank records for your end of year tax return, but for your BAS’s you must have a tax invoice for all expenses over $82.50 in order to claim the GST back.

Oct 17, 2010. What would be a reasonable quote for a self employed taxi driver tax return, shoe box of documents?many thanks. Koodamela Kooda Vachu Mp3 Song Free Download.