Hi guys,
I receive a $10k Car Allowance and also $2,000 on a fuel card.
I am using my own car.
Have searched the ATO website but am getting a bit of conflicting information.
What am I allowed to claim on my personal tax return as a motor vehicle deduction?
Is it correct that I can claim for the business portion of car expenses used, but not the fuel purchased as this is effectively a reimbursement? I note that my employer does not reimburse me for the specific fuel expenses I incur, but rather just gives me a $2k fuel card to spend on petrol for the year.
This is reported separately to my Car Allowance on my Payment Summary.
Would I have to do the Log Book method and claim the business portion for my Motor Vehicle expenses, but exclude the fuel?
Would I not be allowed to use the Cents per KM method as the fuel card would be regarded as a reimbursement and this is double dipping?
Thanks
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