In order to claim kms travelled on your vehicle, the ATO requires you keep a detailed logbook recording any relevant information.
What you need to track
This can be recorded either electronically or in a pre-printed logbook and should detail:
- Time of day you travelled,
- Date travelled
- Where you went
- Kilometres driven
Fuel and oil costs
Keep all of your receipts.
- Cleaning your car.
The ATO requires you to keep a logbook, but why?
When claiming deductions on your tax return the ATO requires you to provide proof of your claims. Your logbook acts as your proof to claim. In your logbook you are required to keep records of start and end date of the journey, odometer readings at the start and end of the journey, kilometres travelled and the reason for the journey. This record keeping is important because:
- You’re entitled to claim a percentage of all vehicle expenses - like when using your car for work-related activities, such as taking equipment to and from work that can not be stored there.
- A logbook proves how much travel you’ve done for work. You only need to record work trips, your starting odometer and end odometer for the year.
Want an easy way to track it all?
Simplify the logbook process with ITP Queensland’s tax app. It allows you to easily record distance travelled in your car, simply press “Start Recording” at the beginning of your journey, and it will add up the kms as you go. It even knows when you’ve stopped driving and will save the trip for you.
Want even more benefits?
- Easy and free to use
- Unlimited journeys can be logged
- Track multiple vehicles
- Tag and categorising is available
- Your ITP tax professional will be able to view the logbook data once granted access, making your tax return a breeze
Download the ITP Tax App today!