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QUESTION 8.25 (Car expenses using logbook and expense data) Rory derives business income from a retail cosmetics store. On 1 October 2021, Rory bought
QUESTION 8.25 (Car expenses using logbook and expense data) Rory derives business income from a retail cosmetics store. On 1 October 2021, Rory bought a Mercedes for $78,340. Its effective life is eight years. Rory kept a logbook for 12 weeks which disclosed the following: Travel from home to the shop and return 2,735 km Travel from the shop to college (Rory is studying a 370 km course in fitness training) . Travel from college to home Travel to customers and suppliers 735 km 3,460 km The logbook is representative of the entire year. Odometer records showed a total of 23,840 kilometres travelled during the period up to 30 June 2022. Rory also kept receipts and records which show the following costs: Petrol and Repairs Excess on Insurance for repairs Car Washes Registration and Insurance $ 2,850 600 930 1,735 Parking at Airport (during a business trip) 380 Determine the maximum amount of any deductions available to Rory.
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