| |
Cents Per km Method | 12% of Original Value Method | One Third Actual Expenses Method | Log Book Method |
| Eligibility Requirements | None | Business use must exceed 5,000 km | Business use must exceed 5,000 km | Car must be held |
| Expense base | Business km's travelled Multiply by X cents for each km |
Original value Multiply by 12% |
Total vehicle expenses Multiply by 33.33% |
Total vehicle expenses Multiply by business use percentage |
| Do you have to substantiate the expenses? | No (reasonable estimate of business km travelled). | No | Yes (written evidence of expenses) | Yes (written evidence of expenses) |
- A maximum of 5,000 km can be claimed using the cents per km method.
- A log book must be kept for a continuous 12 week period, and can be valid for 5 years.
- The motor vehicle depreciation cost limit is $57,466.00.