News in brief…19 June 2024

ATO advice and guidance

ATO advice and guidance The Australian Taxation Office (ATO) released its latest advice and guidance on 19 June, which includes a tax determination, a class ruling, and a product ruling. Tax determination Income Tax Assessment (Cents per Kilometre Deduction Rate for Car Expenses) Determination 2024This instrument sets the rate at which work-related car expense deductions may be claimed in an income year when using the cents per kilometre method at 88 cents per kilometre for the income ye...

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Published Date: 19 June 2024