A logbook is a record of the mileage on your car’s odometer that is maintained for a continuous period of 12 weeks. Without a logbook, you will not be able to claim the Instant Asset Write-Off or Full Expensing benefits available to you. The Australian Taxation Office (ATO) will not enable you to claim automobile deductions for your fuel, insurance, registration, or any other car-related costs. If driving for Uber makes up a good chunk of your income, you’ll find that maintaining a logbook is well worth your while.
The ATO requires a logbook to claim a […]