You can also use the fuel tax credit calculator to work out the amount to report on your. The new tax year is starting on july 1st, and the ato has announced the new cents per km rates for the 2023/2024 year.
You need to use the rate that applies on the date you acquired the fuel. See how the rate has changed, why,.
Use These Tax Rates If You Were Both:
An australian resident for tax purposes for the full year.
The Mileage Rate Includes All Vehicle Running Expenses And Depreciation, Such As Registration, Fuel, Servicing And Insurance.
Quick refresher on the cents per km method.
Images References :
Motorists Who Use Their Own Cars For Work Will Lose About $85 A Year In Tax Claims When The Australian Taxation Office Updates Its Mileage Rates From July 1.