25 June 2020
Motor Vehicle Odometer Readings
To enable a claim for motor vehicle expenses by the "log book" method, odometer readings need to be recorded as at 30 June 2020.
This only applies to vehicles which are less than 1 tonne carrying capacity and owned by self-employed persons or by employees in their own right. This does not apply to motor vehicles supplied by an employer (i.e. a company, trust, etc).
Can we suggest that you check out our online odometer reading form where you can send us the information via our website or download a PDF pro forma to be returned to us together with your 2020 income tax information.
Please note that an odometer reading is also required by all clients on the acquisition and disposal of any motor vehicles.
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This Newsletter, of necessity, has dealt with matters of a technical nature in general terms only. Clients should contact us for detailed information on any of the items in the Newsletter. No responsibility for loss occasioned to any person acting or refraining from acting in reliance upon any material in this Newsletter can be accepted by any member or employee of the firm.