Tax Deductions Checklist for Car Dealers in Sydney
If you are in car dealership profession and looking to claim work-related tax ecpenses for the last financial year or the next financial year, contact us by filling the Tax Deductions Checklist for car dealers using the form on this page and the following points which are important:
- you must have spent the money yourself and weren’t reimbursed
- it must be directly related to earning your income in car dealership
- you must have a record to prove it.
You can only claim a deduction for the work-related portion, if the expense was for both work and private purposes.
The information found on this web page is a general advice taken from many sources. Please speak to the ATO website or contact a professional accountant for car dealers in Sydney NSW for more advice.
When lodging your tax returns in 2024 for the last tax year or previous tax years, remember to report all income in your tax return and remove any portion of your expense that is not work or car dealership related.
According to the Australian Taxation Department (ATO), when you claim a tax expense deduction in car dealership profession or any other profession, you are stating that everything you have told ATO is true and can be supported with records.
It your responsibility for the claims you make in your tax return, even if you use a registered tax agent to prepare and lodge the returns on your behalf.