per km car deductions

[stirling]

I know there is a 5000 km limit on car kilometre deductions.
Does anyone know if this is 5000 km personal IPs plus 5000 km trust IPs.
And if I have 2 cars is it 5000 per car?


Stirling

 

[devo76]

I know there is a 5000 km limit on car kilometre deductions.
Does anyone know if this is 5000 km personal IPs plus 5000 km trust IPs.
And if I have 2 cars is it 5000 per car?


Stirling

My understanding is that its 5000 per car but can be more if you have a log book recording your travel.I donth think the book has to be a full 12 months.Just long enough to show a pattern. Not 100% on that one. Also the eng size of the car plays a part.

 

[AVD]

Hi

The logbook has to be for 12 weeks of that financial year. The 5,000 kms rule is up to 5,000 kilometres travel all up, including rental, work related and business. You can claim kilometres on top of this but it can only be tax related travel to see you agent or situations like that.

Regards,

Alysha

 

[Quasar217]

Hi

The logbook has to be for 12 weeks of that financial year. The 5,000 kms rule is up to 5,000 kilometres travel all up, including rental, work related and business. You can claim kilometres on top of this but it can only be tax related travel to see you agent or situations like that.

Regards,

Alysha

It's annoying - I always run up against this limit as I have to travel a lot for work. As you record the IP and work related deductions in separate sections of the form I'm not sure if the 5,000 applies to both or either.