Logbook Method 4 – ATO & IRS Approved
2 min read
2 min read
If you are in Australia, New Zealand, UK, Canada, South Africa, Ireland, Netherlands, France or Canada, you can use the logbook method (tax purposes) to claim the business use (%) on your vehicle.
Veryfi helps you achieve this by simplifying the record keeping of percentage vehicle use, travelled, car expenses like fuel and oil costs or odometer records on which your estimates to your country’s tax office must be based. The history of your travels is then conveniently available anytime by generating a report.
Veryfi’s Logbook is fully compliant with ATO (Australian Tax Office) requirement under method 4 – logbook to claim a percentage business use of your vehicle.. The ATO requires a logbook be kept for a continuous 12 week period. As long as this period is representative of the normal business use of the vehicle it remains valid for five years. To learn more about the logbook method rules set by the ATO, see the ATO website.
We believe that tracking a trip is just 1 part of the picture. An average trip typically incurs expenses like fuel, lunch, tolls etc.. With our integrated Receipts system at the core of Veryfi you can attach your receipts to any Trip.
Example: Say before your trip, you filled the car up with petrol/gas. You would have scanned the fuel receipt into Veryfi. Then on your trip you passed a toll bridge with a receipt being emailed to your Veryfi email address. You used Veryfi’s Logbook to track you trip, you can now attach those 2 expenses (receipts) to this trip by pressing the receipt icon in the header navigation (shown left with a blue circle and #1 inside it).