Search results
4 dni temu · How to use the ATO vehicle log book template. Recording your trips in the Excel or Sheet templates will calculate your reimbursement according to the official ATO cents per km rate. For 2024/2025, the cents per km rate is $0.88.
5 dni temu · Creating a mileage reimbursement calculator in Excel is a practical solution for managing travel expenses. Its flexibility, cost-effectiveness, and ease of use make it an excellent choice for businesses aiming to streamline their reimbursement processes.
4 dni temu · Use official cents per kilometre rates or enter your own. Check your reimbursement or deduction with the ATO mileage calculator.
6 cze 2024 · For example, if you drive 20,000 business miles in a year, the standard mileage rate will provide you with tax deductions totaling $13,400 – provided that you submit an IRS-compliant mileage logbook.
4 dni temu · If you use the ATO logbook method, you will need to record your business-related kilometres to ensure that you are getting reimbursed for all relevant expenses, with no limitation on how much you can claim (unlike the simpler cents per kilometre method, which has a cap of 5000 business km per year).
19 cze 2024 · The records you need to keep for your business's motor vehicle expenses depend on how you calculate your claim. You will generally need to keep: details of the kilometres travelled for business and private use; receipts for fuel, oil, repairs, servicing and insurance cover; loan or lease documents; tax invoices; registration papers
11 cze 2024 · Calculating work-related travel expenses. There are three methods for calculating work-related tax deductions: Cents per kilometre method: For FY23/24, you may be able to claim up to 5,000 km at a flat rate of 85 cents per km. You must keep a travel log to determine how far you travel for work purposes.
