Question: Brian sometimes uses his car for work purposes. He provided the following information in respect of the year: Items Amount ($) Car cost 37250 Fuel
Brian sometimes uses his car for work purposes. He provided the following information in respect of the year:
| Items | Amount ($) |
| Car cost | 37250 |
| Fuel | 3120 |
| Insurance | 563 |
| Repairs | 742 |
| parking fees | 80 |
| Registration | 543 |
| Speeding fine | 120 |
| Road tolls | 167 |
| Car wash | 90 |
Brian kept a logbook for the entire year and it showed the following:
| Trips | Km |
| Trips between work and home | 4917 km |
| Trips between places of work | 5270 km |
| Private trips | 5243 km |
Brian's car has a 2.2 litre engine and he prefers to depreciate it at 15% straight line. It was purchased on 1 July.
a) Calculate Brian's motor vehicle deduction using each possible method.
b) Which method should Brian use to minimise his tax?
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
