Motor Vehicle Expenses Spreadsheet

This spreadsheet is a useful tool for monitoring and recording your motor vehicle expenses for your year-end tax return.

Keep track of your quarterly expenditure, including lease payments and interest on loans or motor vehicle finance arrangements, for an accurate record of your car's running costs at the end of each month, quarter and year.  

What Car Costs are Deductible 

If you choose to use the log-book method you will also need to keep records, such as receipts, bank statements or written evidence, of all your car running costs each year. These costs can include, but are not limited to:

• Fuel
• Repairs and servicing
• Insurance
• Registration
• Interest on a motor vehicle loan or hire purchase agreement
• Lease payments
• Depreciation for financed or hire purchased vehicles up to the luxury car tax limit. There is no depreciation on leased vehicles

Disclaimer

This is not advice. Items herein are general comments only and do not constitute or convey advice per se. The information contained in these articles is for guidance only and should not be relied upon without obtaining professional advice having regard to your direct circumstances.