![]() ![]() You might need to make a balancing adjustment if you have been claiming deductions for your car and, during 2022–23 either: Was your car sold, disposed of, stolen or destroyed? If you are claiming a deduction for the decline in value of a car, see Guide to depreciating assets 2023. If you owned your car for only part of the year, you will need to apportion your deduction accordingly.You can claim a deduction only for a year in which you used the car for work.The car starts to decline in value from the day you first use it, even if you don't begin using it for work until a later time.If you leased a luxury car, see Special circumstances and glossary 2023 for more information. you owned the car or hired it under a hire-purchase agreement.You can claim a deduction for the decline in value of the car only if: Deductions for decline in value (depreciation) If you received assessable foreign employment income that is not shown on a PAYG payment summary – foreign employment, you claim your deductions against that income at question 20 Foreign source income and foreign assets or property. If you received assessable income from your work as an employee outside Australia that is shown on a PAYG payment summary – foreign employment, you must claim any work-related car expenses you incurred in earning that income at this item. Expenses relating to foreign employment income You can also use our Work-related car expenses calculator to answer this question. For some examples of trips you can and cannot claim, see Car and travel expenses 2023. Work-related kilometres are the kilometres you travelled in the car in the course of earning assessable income (includes work-related activities). The two methods are:īoth methods require you to know or estimate your work-related kilometres. You can use the one that gives you the largest deduction or is most convenient. You can choose which method to work out your car expenses. written evidence for your car expenses (receipts or invoices). ![]() Go to question D2 Work-related travel expenses 2023, or return to main menu Individual tax return instructions 2023. PS LA 1999/2 Calculating joint car expense deductionsĭid you have any of these work-related car expenses?.TR 95/34 Income tax: employees carrying out itinerant work – deductions, allowances and reimbursements for transport expenses. ![]()
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