Which method do you use? Logbook or Cents per kilometre?

Great work mate. Super easy to follow what is happening with the subject.

@EthanRooshock

Жыл бұрын

No worries!

Great video mate. Clear and well explained information

@EthanRooshock

2 жыл бұрын

No worries, glad it helped!

Thank you! best explanation I have found you put it so simple :)

@EthanRooshock

Жыл бұрын

Awesome, glad it was helpful!

Nicely done Ethan, cheers.

@EthanRooshock

3 жыл бұрын

No worries!

Thank you for the explanation!

@EthanRooshock

2 жыл бұрын

No worries, thanks for watching!

Great vid mate easy to understand thanks 👍

@EthanRooshock

2 жыл бұрын

Glad you found it helpful!

Diction on point !!! PERFECTION thanks it makes it very easy for the non born speakers of aussie language m8 ❤

@EthanRooshock

Жыл бұрын

No worries, glad it was helpful!

V good vid mate.

@EthanRooshock

Жыл бұрын

Thanks!

Very informative

@EthanRooshock

2 жыл бұрын

Glad you found it helpful!

Great info

@EthanRooshock

2 жыл бұрын

Thanks!

Great video

@EthanRooshock

Жыл бұрын

Thanks!

Just helped me to choose cents per km as I use my car less for my business this year.

@EthanRooshock

2 жыл бұрын

Awesome!

Can you talk about social media influencer tax ABN

@EthanRooshock

12 күн бұрын

I have. Watch that video and it should help

How do you calculate depreciation on your car mate? Liked and subscribed!

@EthanRooshock

Жыл бұрын

Depends if you are a business or an individual

@staffi8022

Жыл бұрын

Business (ABN)

@staffi8022

Жыл бұрын

Let’s say When I bought the car for $50,000 and is now worth $45000. Is the difference the depreciation? 5k depreciation?

@EthanRooshock

Жыл бұрын

@@staffi8022 Not exactly. You should seek advice of your accountant.

Hey mate if i change registration on the same vehicle do I need to do a new logbook after it has been re registered. Thanks for the video

@EthanRooshock

Жыл бұрын

Nah no need as long as your current logbook is valid and your usage hasn't changed.

Hi Ethan, I have been told that if your must needed related work items weight all together over 20-25kg but ain't bulky in size you can claim the km/log book system. Have you seen/heard of weight been a factor in defining what allows you to claim this? Thanks

@EthanRooshock

3 ай бұрын

Have a read on the ATO website about bulky goods. They have some good references on there. Typically the most basic is in regards to whether it could be carried on public transport but it depends on a case by case basis.

Hi Ethan, I’m a gas meter reader and use my car for work. As I don’t have a fixed base of operations and go straight from my house to the beginning of the days route and then straight home at the end of the day (usually with travel between routes that is compensated by my employer) would you say that I fit the description of an itinerant worker and can therefore claim travel between home and the worksites? Cheers

@EthanRooshock

11 ай бұрын

You potentially may be able to. I can't give individual advice here though so best to speak to your accountant or the ATO.

Have you got any info on the log book method for the ATO app

@EthanRooshock

Жыл бұрын

What do you mean sorry? You would need to keep a log book and then keep track of all of the expenses.

Thank you mate. Just a question: when entering deductions on the ATO app it asks if the deduction is 100% deductible? Is that something I uncheck as the vehicle is also used for private use? Thank you

@EthanRooshock

10 ай бұрын

Depends how you are claiming for your car expenses. If it is in regards to the ATO app, best to ask them directly.

In myTax they have taken the car expenses claim section away from personal services income sole traders even though they say you can claim!

@EthanRooshock

Жыл бұрын

Not sure sorry, I don't use myTax

I'm a medical doctor and check patient results etc in my home office in the morning before going into the surgery to see patients. Would I be able to claim the trip from home into the surgery?

@EthanRooshock

Жыл бұрын

It depends whether your home office would be deemed as your usual place of work. Based on that, I would say that is unlikely if you make a daily trip to the surgery.

IS casual work considered shifting places when the agency tells you to go to different companies ? thanks

@EthanRooshock

9 ай бұрын

I'm not sure exactly what you mean sorry

Hey mate, for the log book method. Are you only able to claim the fuel and other expenses for the whole years worth or only for the 3 months required to report? Thanks.

@EthanRooshock

Жыл бұрын

All 12 months, you just need the logbook for the 3 months to show the work/business %.

@vientiane122

Жыл бұрын

@@EthanRooshock thanks heaps mate cleared it up. Also, if I work on my car myself and buy the car parts. Am I able to claim the parts/fluids on tax?

@EthanRooshock

Жыл бұрын

@@vientiane122 It most cases that would be fine.

Hey Ethan. Thanks for your video ! I have a question: I’m working on a farm just close by from where I live but every two weeks I have to travel to another town (60 km one way) to help out on another site of my company. (I’m going there by my car directly from home). The site is not my usual place of work. Can i claim the car expenses? Thanks for your help :)

@EthanRooshock

Жыл бұрын

Yeah you probably would be. Just double check on the ATO site in the section about car expenses. They have some good examples and it is quite a thorough description of when you can.

@puuuuuuuups123456

Жыл бұрын

Great! Will check it out. Thanks a lot 🙏

@EthanRooshock

Жыл бұрын

@@puuuuuuuups123456 No worries!

Would we be allowed to change to Cents Per Km if we’ve used the logbook method in previous years? And if we did, would we still need to pay tax when we sell the car?

@EthanRooshock

3 жыл бұрын

Leave that one with me and I'll get back to you!

@onlyinrebeltube7692

2 жыл бұрын

@@EthanRooshock you didn’t get back to his question yet

Hi Ethan I am thinking to leasing electric car for 100 percent work purpose to do home care nursing job Just wondering can I still claim leasing cost as my personal tax deduction ? I am not a employer or sole trader I am currently working for health care agency as employee

@EthanRooshock

Жыл бұрын

You should seek the advice of your accountant or the ATO as that is quite a personalised question sorry.

Can i claim if i work as a casual my home location is at one place where i usually get 1 to 2 shift in a month and i have to work in different location on a daily basis which is not my home location

@EthanRooshock

Ай бұрын

Best to check with your tax agent or the ATO

Hi Ethan, how do I claim a rent to own car? the whole amount as a dispense?

@EthanRooshock

2 жыл бұрын

Depends on your exact situation sorry.

@AntonioJansen

2 жыл бұрын

@@EthanRooshock of I use the car 80% of the time for business (uber). Can I claim as a dispense in the logbook method??

@EthanRooshock

2 жыл бұрын

@@AntonioJansen I can't give specific tax advice via KZread sorry.

If i travel 45 km to work so it will be hust one side or i can claim both back home also that is 90 km?

@EthanRooshock

11 ай бұрын

You would need to first make sure you can actually claim any of that

When you say “claimable” does that mean you can get that money back in a tax return?

@EthanRooshock

Жыл бұрын

No, it means you claim it as a deduction which reduces your taxable income. This then lowers your tax payable.

I keep forgetting to do my log book

@EthanRooshock

3 жыл бұрын

Always a good idea to do one at some stage!

if i drive more than 10000kms per year for Uber and used logbook method ,Can i claim more than $3600 or whatever over 5000kms i still only get $3600 tax return ?

@EthanRooshock

2 жыл бұрын

I think you are getting the two methods mixed up a bit sorry

@babrae

Жыл бұрын

Hi please explain any video for depreciation of car as well if used logbook method thx .in more details how depreciation usually work ? As if buy car around 50000 and first year full and then 0.70 and further

Hey Ethan! I’ve traveled 7500ks for work this year (log book) and claimed 5000 of them through work on the cents per Klm method and they have paid me that allowance. The 2500k difference however can I claim that using log book at tax time or have i missed the boat this year? This is the first year ive gone over 5000k 😞

@EthanRooshock

29 күн бұрын

Your allowance would likely be income in your return. It isn't linked directly to how you claim (even if they paid it via a Cents Per Kilometre calculation). You can normally still claim under the logbook method.

@katienichols954

29 күн бұрын

@@EthanRooshock thankyou! It’s awfuly confusing. My last income statement it shows as ‘Salary & Wages’ follower by cents per km and a dollar value. Assuming if that hit the 5000km threshold i cant then go and claim the 2500km difference in my tax return under the cents per km method.

@EthanRooshock

29 күн бұрын

@@katienichols954 Have you had a chat to your tax agent about it? I'm sure they will be able to explain and ensure you are maximising the claim.

Hi, I'm amending my tax return for 2021-22. I've added my 5000km but it's says I'm only going to get an extra 300 or so, not $3,600. Do you know why?

@EthanRooshock

Жыл бұрын

You don't get an extra $3600 back. You get an extra $3600 deduction. I would highly recommend you do further research on how the tax system works if you are amending your own return.

@123coolisme

Жыл бұрын

@@EthanRooshock Thanks

@EthanRooshock

Жыл бұрын

@@123coolisme No worries!

I just want to know where I enter the $/km result in my tax return.

@EthanRooshock

10 күн бұрын

What do you mean?

@christianmccarthy3035

4 күн бұрын

Yeah I've got a similar issue. On the website it asks for total expenses(including fuel). Does that mean you take the kms travelled in the 12 weeks and multiply that over the whole year then divide it by the estimated cost per km that the ato gives for that year? For example over the 12 weeks I travelled 5000km, do I do 5000 x 4.5 for a year x 70% for the proportion of it that was work related then x 0.85 for the cents per km for the 23/24 financial year? Is that my deduction for fuel?

@EthanRooshock

3 күн бұрын

@@christianmccarthy3035 I think you're getting the logbook and Cents Per Kilometre methods mixed up.

My employer reimburse the travelling expenses between permanent and temporary work places. In that case can I still claim it in tax return?

@EthanRooshock

Жыл бұрын

It depends on whether you are reimbursed or get an allowance.

@Akhil_Mohan

Жыл бұрын

@@EthanRooshockThank you. It’s under allowances as ‘cents per kilo meter’ in my income statement.

@EthanRooshock

Жыл бұрын

@@Akhil_Mohan Then normally you can claim a deduction as the allowance would be in income

@Akhil_Mohan

Жыл бұрын

@@EthanRooshock Thank you mate!

@EthanRooshock

Жыл бұрын

@@Akhil_Mohan No worries!

Can we claim initial car purchase expense?

@EthanRooshock

Жыл бұрын

Depends on how you are claiming, whether you are a business or individual etc.

@raveenp8988

Жыл бұрын

@@EthanRooshock say I am employed in Australia after getting my PR. I will be purchasing a new car, can I put this car purchase cost to claim from taxes?

@EthanRooshock

Жыл бұрын

@@raveenp8988 Again, it depends on a number of details. In most situations as an employee, no, you can't just claim a car. It depends though.

@raveenp8988

Жыл бұрын

Thanks. It what situation it can be claimed? Can you please give an example?

@EthanRooshock

Жыл бұрын

@@raveenp8988 You will need to get individual advice. I can't give that on KZread.

Can we claim for two cars if we have used?

@EthanRooshock

2 жыл бұрын

If you have 2 cars that are both in your name and you have used both for work, you can claim for both.

FANKz M8!?!

@EthanRooshock

3 күн бұрын

No worries!

You can't win with government, even grey imports tax to hell . R34 gtr in Japan luxury car tax in Australia = $290000 Rego

@EthanRooshock

2 жыл бұрын

Yeah luxury car tax isn't a fun one. This video doesn't cover it but it's definitely expensive!

$100000aud car the Government profits the most off sales $29000 as there 5% custom duty at port in Australia. In USA there no federal sales tax on retail price and less redtape on business but left party blame Capitalsm for high prices not mention this

@EthanRooshock

2 жыл бұрын

Again, a totally different topic to what I have discussed on this video but definitely an interesting one.

Hi Ethan! Love the video! Would love to chat with you if possible!?

@EthanRooshock

2 жыл бұрын

Thanks Tanya. What did you want to chat about? Happy for you to get in contact with me