Claiming logbook against individuals PAYG income - I don't believe you can as the substantiation rules will apply but if the spouse and taxpayer switch cars - can the taxpayers deduct the vehicle expenses if it is in the spouses name?
From ATO website
If you use a car owned by a family member, and you can show there is a private arrangement that made you the owner or lessee of the car (even if you aren't the registered owner), you work out your car expenses as though it is your car.
Link to above.
Expenses for a car you own or lease | Australian Taxation Office
So it is possible
From ATO website
If you use a car owned by a family member, and you can show there is a private arrangement that made you the owner or lessee of the car (even if you aren't the registered owner), you work out your car expenses as though it is your car.
Link to above.
Expenses for a car you own or lease | Australian Taxation Office
So it is possible
ok great. Last question surrounding this - If the car was purchased 4 years ago for 25,000 but the market value is still high sitting at 20,000, does the client use the market value for depreciation in this years return or do they need to work out the carried written down value as if it were depreciated for those prior 4 years?
22 Apr 2024 · 6 min read time
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