As a business owner, you may claim a tax deduction for expenses related to motor vehicles you own, lease, or hire, including cars, Utes, motorcycles, and four-wheel drives used in your business.
You may also claim the motor vehicle running expenses including,
Fuel
Registration
Insurance cover premiums
Servicing fees
Repairs and maintenance
New tyres and parts
Motor vehicle loan interest
Lease payments
Other expenses
Under instant asset write-off, you may also claim the purchase price of your motor vehicles immediately.
Premier Tax & Bookkeeping can help you claim all your business relatedmotor vehicle deductions and maximise your refund.
Join our official Tax Tips WhatsApp Channel to stay informed and maximise your tax refund – and you’ll automatically enter the draw to win an IPhone 16e!