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JazIronside(I'm new)I'm new
18 Sept 2023

I have previously had a novated lease with another employer that is simply just a leased car now after moving jobs. I have used the logbook to track work related km for a second year now in a vehicle carrying bulky tools for work. I am aware of claims for fuel, registration, insurance etc but I was unsure If the lease payments made on the vehicle could be claimed as they are payments against a loan only and not salary scarified. I didn't claim them last year but reading the evidence more seems to suggest they can be claimed. Any help appreciated!

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427 views
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Bruce4Tax(Taxicorn)Taxicorn
18 Sept 2023

but I was unsure If the lease payments made on the vehicle could be claimed as they are payments against a loan only


Leasing is more like a hire charge than a loan.


I didn't claim them last year but reading the evidence more seems to suggest they can be claimed


Yes - now that the car is no longer a fringe benefit.


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Most helpful reply

Bruce4Tax(Taxicorn)Taxicorn
18 Sept 2023

but I was unsure If the lease payments made on the vehicle could be claimed as they are payments against a loan only


Leasing is more like a hire charge than a loan.


I didn't claim them last year but reading the evidence more seems to suggest they can be claimed


Yes - now that the car is no longer a fringe benefit.


Liked by JazIronside
JazIronside(I'm new)I'm new
18 Sept 2023

I appreciate your reply thank you. This was sort of how I was looking at too but was worried because it will add an extra 9k to my claims at ⁸⁷% business usage which will surely make the ATO question it.


Do you think it would be worth altering last year's return to reflect this? Situation is pretty much the same. The novated lease ended the year before this.

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Is this a valid claim of lease payments using logbook method? | ATO Community