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?
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