Good morning,
I have a commercial work ute (it was a condition of employment as we work mobile and require our own car to attend customers houses or job sites with our tools)
I have previously claimed all relevant expenses on my tax return in the past with receipts (insurance, registration, Petrol receipts, servicing, etc)
I had an injury at work and was unable to return, but I still kept the car as I was hoping to return to my job once the Doctors cleared me. After 6 months on Workcover and seeing several specialists I was told that I can’t return to my career and I decided to sell the Vehicle as I couldn’t afford to maintain it whilst having no income after workcover kicked me off and went back to driving my family car. I still had expenses for my work car during the time (Insurance, Registration, Servicing) and also sold the car for a massive loss as I couldn’t afford the upkeep of the car.
Am I able to claim the losses and expenses on my tax, as I had previously had this car for the sole use of employment and I had been using the logbook method with receipts, logged Km’s etc.
I understand I can’t claim petrol expenses but I still had to incur the upkeep costs of the car which ultimately led me to selling it.
I also had a lot of tools in a depreciating table which were purchased for work in 2020 and the receipts were given to my tax agent. Some were instantly written off that year as they were >$200 but the more expensive ones were to be depreciated over a few years. Will these now stop being depreciated or am I still able to claim them on my following tax returns since I outlaid the money back in 2020? I also purchased things in the current financial year for work, but now I can’t return to work in the industry am I still able to claim those expenses too? It was mainly PPE gear and a few tools all under $1000 total.
9,700 views
2 replies