Please sign in here using your existing KPMG Account (KPMG Directors’ Toolkit | KPMG Tax Now | KPMG Support).
If you cannot remember your sign in details, or you need assistance, please contact us.

 

Logbook records key to substantiating car expenses

The importance of proper record keeping to support deductions is again demonstrated by a recent AAT case and is a reminder for employers relying on reducing their FBT by maintaining logbooks.

Poor record keeping and insufficient substantiation prevented an individual taxpayer from successfully claiming deductions in respect of various work related expenses in Reid and Commissioner of Taxation (Taxation) [2019] AATA 4624.The case underlines the importance of satisfying all the requirements necessary to substantiate work-related car expenses under the logbook method.While this case primarily relates to an individual taxpayer, it will have relevance for those who are responsible for ...

Sign in below or register now to read the full article

Authors: Hayley Lock

Published Date: 26 November 2019

 

KPMG Tax Now is a digital media website that brings together industry-leading tax news, insights and more from our global network of experts.

Stay informed of important policy and legislation changes, and what it means to you and your business. 

Subscribe to our KPMG Tax Now platform to receive important updates delivered to your inbox, access to exclusive multi-media content, and invitations to interactive information sessions with KPMG experts.

If you are an existing user please click here

Please sign in here or  Register  if you don't have an account

 

 

Forgot Password?      Forgot Username?