Hi, I have 2 separate businesses using the same car.
Can I use logbook method for Business 1 and cents per km method for Business 2?
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Thanks @Elaine1234 and I'm so sorry it took a while to get back to you.
The answer is yes.
A sole trader can use different methods for different cars and you can also change methods from year to year.
Take a look at calculation for business motor vehicle expenses on our website.
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Hi @Elaine1234
Does each business have it's own ABN?
@AriATO Both businesses use the same ABN. Only 1 ABN.
Thanks @Elaine1234, I'm going to double check with our technical area, can you tell me what the business structure is? Is it a sole trader?
@AriATO Yes it is a sole trader.
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