Ross Steele

With less than two months until ATO is 'Clearing Up' Some Common Payday Super Myths Payday Super starts (on 1 July 2026), the ATO wishes to 'clear up' the following common misconceptions.

Keeping a car logbook may be required to accurately calculate the business-use percentage of vehicle expenses (e.g., fuel, registration, insurance and depreciation) for tax deductions. When claiming car expenses using the logbook method, taxpayers also need to keep various types of other records, including (among other things) odometer records.

Editor: The Government recently passed legislation to extend the $20,000 instant asset write-off for small businesses by 12 months to 30 June 2026.