513 investment properties & tax: deductions, depreciation schedules, land tax, CGT, trusts + more
this is property
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How to Get a Bigger Tax Refund
Accountants can't make up deductions. What a good accountant can do is ask you good questions and prompt you to make better deductions. The logbook method allows you to record for 12 weeks how you use your car for work and then claim a tax deduction for that. So if you drive 20,000 kilometers a year and 50% is for work, that's 10,000 kilometers of expenses you've incurred. You can only claim things like an estimate of kilometers and that's capped at 5000 kilometers. A good accountant helps you by prompting you of good questions and good record keeping.
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