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Didn't you say you can claim something like 75% up to $3750 without receipts?

I've done like 1100kms for work since I started the log on the 21st of Feb, and only about 200kms not related to work/carrying tools, so after 12 weeks it should be something like 6000kms for work, ~1200kms personal...

You can claim approximately 75 cents a kilometer up to 5,000 business km.

i.e.

If you did for the 2012 financial year

7,0000 Business Km's

Spent $6,500 on receipts

Had a log book showing 80%

You could either:

a. Cents per Km method = $3,750

B. Log book method = $5,200

You know what I mean?

valvoline.jpeg

You can claim approximately 75 cents a kilometer up to 5,000 business km.

i.e.

If you did for the 2012 financial year

7,0000 Business Km's

Spent $6,500 on receipts

Had a log book showing 80%

You could either:

a. Cents per Km method = $3,750

B. Log book method = $5,200

You know what I mean?

valvoline.jpeg

No I don't, John Laws lol

Am I supposed to be keeping receipts for fuel? Coz I haven't been lol. Don't tell me ive been log booking this shit for nothing lol

I thought I just had to log book for 12 weeks, then that amount of kms gets multiplied by 4 to make it a full year and that's what u can claim XX% of

No I don't, John Laws lol

Am I supposed to be keeping receipts for fuel? Coz I haven't been lol. Don't tell me ive been log booking this shit for nothing lol

I thought I just had to log book for 12 weeks, then that amount of kms gets multiplied by 4 to make it a full year and that's what u can claim XX% of

Oh man lol

Purpose of a Log book is to figure out the business use %. This business use percentage is then multiplied by the 'actual costs that you incur'

Cents per Km method is just a set rate x Km's you travel. Up to a max of 5,000km

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You'd buy off this guy?!

Oh man lol

Purpose of a Log book is to figure out the business use %. This business use percentage is then multiplied by the 'actual costs that you incur'

Cents per Km method is just a set rate x Km's you travel. Up to a max of 5,000km

Like I said business use will be 80% or more going by the logbook so far, and it'll be pretty much the same for the next 10 weeks.

Didn't know I had to keep fuel receipts though. Can you still use cents per km but with the log booked kms (more than 5000)?

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