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luckybeowulf888(Initiate)Initiate
5 June 2024

Hello,


I have a full EV Tesla that I use for work as an employee - visiting clients offsite etc - I just want to clarify that for the 2024 tax year I can use either:


  • The Statutory method to claim up to 5,000km at 85 Cents per km
  • The Logbook method (keeping a valid logbook for 12 weeks) and claim the business use percentage of depreciation, and claim the electricity used for charging the car based on either receipts from commercial charging stations or use the ATO rate of 4.2 cents per business km travelled? And also, only for the logbook method for an EV, I can estimate the business km travelled for the 2024 tax year?

Could you please advise re this.


Thank you.

3,575 views
1 replies
3,575 views
1 replies

Most helpful response

Most helpful reply

Taxduck(Taxicorn)Taxicorn
5 June 2024

Yes. An EV fits into the definition of a car.

https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/deductions-you-can-claim/cars-transport-and-travel/motor-vehicle-and-car-expenses/expenses-for-a-car-you-own-or-lease#ato-Definitionofacar

Logbook method for EV. See tax ruling (example 9 logbook method)

https://www.ato.gov.au/law/view/document?DocID=COG%2FPCG20242%2FNAT%2FATO%2F00001&PiT=99991231235958&document=document#H68

You need to have total km travelled for year. i.e. beginning and ending km. (not an estimate of business km)

All replies

Most helpful reply

Taxduck(Taxicorn)Taxicorn
5 June 2024

Yes. An EV fits into the definition of a car.

https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/deductions-you-can-claim/cars-transport-and-travel/motor-vehicle-and-car-expenses/expenses-for-a-car-you-own-or-lease#ato-Definitionofacar

Logbook method for EV. See tax ruling (example 9 logbook method)

https://www.ato.gov.au/law/view/document?DocID=COG%2FPCG20242%2FNAT%2FATO%2F00001&PiT=99991231235958&document=document#H68

You need to have total km travelled for year. i.e. beginning and ending km. (not an estimate of business km)

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