Small Business All Figured Out
Running a small business in Australia can be a rollercoaster of ups and downs, but we know it's worth it for the freedom and fulfillment it brings. That's why you'll love the 'Small Business All Figured Out' podcast, co-hosted by Corinne Cole and Sheryl Cole, the co-founders of Platinum Accounting & Taxation. In each episode, they share actionable strategies, tips, and tools to achieve success in your small business. They cover a broad range of business-related topics, including finance, accounting, tax, marketing, branding, social media, and management, tailored specifically for the Australian business environment. With their practical advice and inspiring insights, you'll gain the knowledge and confidence to take your business to the next level. This show is for Australian entrepreneurs, small business owners, and anyone looking to build a successful and fulfilling business that aligns with their values. So grab a cup of coffee, tune in, and get ready to figure it all out with us!
Small Business All Figured Out
009. Tax Bite: Car Expenses - The Logbook Method
Welcome to Small Business All Figured Out - The Tax Bite Edition.
These Tax Bites are created for you, the individual taxpayer, to give you tax tips and tools to help you prepare for Tax Time 2020 in Australia. This Tax Bite Edition is hosted by Registered Tax Agents and CPA’s Sheryl Cole and Corinne Cole.
Special Tax Bite episodes will be happening in the lead up to tax time 2020 to help you prepare for tax time and get the inside scoop as to what you can and can’t claim on tax and what documentation you need to ensure your claim holds up in an ATO audit.
In this episode, we're talking about how to use the Log Book Method to claim your car as a tax deduction.
In this episode, we cover:
- What the definition of a car is, as per the ATO
- What trips qualify as work-related travel
- How the logbook method actually works and the details you need to record for work-related travel
- The receipt evidence that must be kept when using this method
- How long a logbook lasts and when you need to start a new one.
You can learn more about the show's hosts, Corinne Cole and Sheryl Cole at:
