Motor Vehicles and Tax
The tax implications of motor vehicle usage: how to avoid the ATO spotlight
Over 3.6 million people made a work-related car expense claim in 2017–18, totalling more than $7.2 billion. As a result, the ATO has put car claims at the forefront of its compliance efforts in recent years, a focus that will continue in Tax Time 2020.
This webinar gives a “one-stop shop” overview of the income tax, FBT and GST impacts of owning and using a motor vehicle in a job or business. Illustrated with a detailed examination of the relevant law and cases, as well as practical examples, this session will provide practitioners with all they need to confidently deal with client motor vehicle claims and queries
Amongst the issues to be covered are the following:
- When can deductions be claimed for motor car use?
- An overview of the cents per kilometre and logbook methods.
- What is a car for tax purposes? Which vehicles are not cars and how are they treated for tax?
- Record keeping for car use.
- Depreciation for motor vehicles.
- Expensive car limit – how it applies to income tax deductions and GST.
- Ride-sourcing drivers – how the rules apply to drivers for Uber and other similar services.
- Salary sacrifice arrangements.
- FBT and motor vehicles
Webinar Learning Outcomes:
Participants will gain an in-depth understanding of how tax law applies to motor vehicle ownership and use, how to advise clients and what planning can be done now or in the future to get the best tax outcomes for clients.
Ideal for tax practitioners, accountants and other professionals with individual and small business clients who use motor vehicles as part of their employment or business.
Mark Chapman is the author of Life and Taxes: A Look At Life Through Tax and has recently edited and updated the second edition of Australian Practical Tax Examples, published in September 2019, both published by Wolters Kluwer CCH Australia.
He has over 25 years experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a fellow of the Institute of Chartered Accountants in England and Wales, a fellow of CPA Australia and a member of the Chartered Institute of Taxation. He holds a Masters of Taxation Law with the University of New South Wales.
Since 2015, Mark has been Director of Tax Communications with H&R Block Australia. He writes regularly on tax issues for numerous media outlets and presents on topical tax topics at seminars and other events. He broadcasts frequently on radio and television and writes a regular column for Money Magazine and Yahoo7 Finance. As a tax practitioner in the UK, he occupied a number of senior positions before moving to Australia in 2007 to join the Australian Taxation Office (ATO) as a senior director.
You will be provided with:
- PowerPoint Presentation slide deck
- A word searchable Transcript of the entire webinar and Q&A session
- Webinar Recording to view multiple times for up to 6 months
- Q&A Session and contact details for follow up