Motor vehicle expenses

Special rules to justify and calculate car costs apply to a person. Under these rules, the costs of motor vehicles can be requested using one of two methods where the costs of a car, a station wagon, a delivery van, a truck or another road vehicle are designed to carry a load less than a ton and less than nine. . the passengers. See the costs of work-related cars for an explanation of these methods.

Excluding amortization, finance lease costs or interest paid. It must be included in depreciation, rents, interest payments in Australia or interest payments abroad.

Repairs and maintenance
These are the expenses included in repair and maintenance bills for buildings, installations, machines, tools, tools, rolling stock or items related to revenue production. All non-deductible expenses, such as capital items or amounts relating to the private use of an item included in this field, should also be included in cost alignment adjustments. The following information on deductions for repairs will help you determine if the cost adjustment needs to be adjusted.

repair

It is possible to deduct repair costs (which are not capital expenditures) of buildings and depreciation assets such as plants, machinery or equipment that are used exclusively to generate taxable income or to run a business for that purpose.

Expenses for the repair of immovable property that are partially used for commercial purposes or income generators (for example, when real estate is also used for private purposes or for the production of exempt revenues) are deductible only to the extent of reasonable , given this use. For example, if the assets were used for 45% in the company, for 40% for private use and for 15% for exempt revenues, a reasonable deduction would be 45% of the costs.

When items are purchased new, especially as inheritance or gift, the cost of repairing the defects existing at the time of purchase is generally capital.

The costs of making changes, additions or improvements are capital costs and are not deductible.

For more information on deductions for repairs, see Tax Regulation TR 97/23 Income Tax: Deductions for Repairs.

Files you should keep

To support the claim for repair costs, it is necessary to keep track of all the details, including the source documents, the nature and cost of repairs for each item.

All other costs
This is the total of all other costs incurred to realize your profit or loss that you have not yet shown elsewhere. Other costs include salaries, accounting and professional expenses, advertising, office supplies, losses in foreign currency (forex) and any loss on the sale of depreciated assets, as indicated in your accounts.

Also include in this section the gifts and donations that are business expenses and the amounts you pay to professionals for the management of corporate tax affairs. It is not necessary to request these amounts with gifts or donations or when dealing with tax matters in the tax return.

For more information on foreign currency losses, visit ato.gov.au or see Other deductions.

You must also include capital and other non-deductible items (including debt deductions denied by the reduced capitalization rules) that are listed below Reconciliation Adjustments.

See also:

Revenue and expenditure adjustments
Excellent capitalization.
Expenses of the Ministry of the Interior

If a part of your accommodation has been specifically reserved as a place of business and was used exclusively for your business and you had no other place where it was mainly carried out, the following costs are partially deductible:

Employment costs, including rent, mortgage interest, home insurance and content and content
operating costs, including electricity, cleaning, depreciation, rental and repair of furniture and office furniture
In most cases, it is possible to allocate expenses based on the area and, if the house was only an office for part of the year, on a time basis.

If you have used part of your home as a home office, but it is not classified as a commercial place, only the additional operating costs are..