The Federal Government is halving the number of ways Australians can claim work-related motor vehicle expenses from the tax office.
There are various ways to claim a tax deduction: cents per kilometre; a logbook; 12 per cent of a car’s original value; or one-third of actual expenses.
The last two will be discontinued because they are used in less that two per cent of cases, Assistant Treasurer Josh Frydenberg said on Monday ahead of tomorrow’s federal budget.
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