How to Claim the Motor Vehicle Expenses in Tax Returns?
Traveling cost from workplace to home
- You can claim the expense if you are going to a work related place from your regular workplace, if you need to go back and forth between two workplaces, it is also covered by vehicle expenses.
- You can also claim the travel allowance if you go to an alternative workplace from your regular workplace and return home or to your regular workplace.
- If your home is the base of work and you need to go to a place to continue your work, then you can claim that allowance.
- If you go to several sites for work purpose, then you can claim the money.
- If you need to carry some tools to the workplace and bring it return at your home, then you can claim the money.
You can claim the car expenses
- The car expenses can be claimed as a deduction only when you are using a car to do your official work.
- When you need to use other person’s car for work purpose, then you can claim the direct expense.
- You can claim only the official use purpose expenses for the car if you need to use it on other occasions after official works.
Apart from these points mentioned above, you can also claim the car expenses in some other cases as well.
You can claim the expense of the travel when you need to carry some tools to complete work at your workplace.
You can claim the expense of attending a meeting or a conference.
When you are going to perform a roaming work you can claim the expense.
There are some methods for calculating the expense in the tax return. You need to know the updated process for calculating the expense. According to the revised method, people can use 66 cents per km for all motor based vehicles for the 2016–17 incoming year. The maximum claim for an individual can be up to 5000 per car.
These points mentioned above are important to know for everyone who wants to claim their vehicle expenses on the tax return. The process and regulation for filing the tax return are easy to follow, and you can take help of a professional in this case as well.