The ATO has released its latest taxation determination on reasonable travel expenses, and it includes a big change for employee truck drivers.
For the 2017/18 income year, the reasonable amount for travel expenses (excluding accommodation expenses, which must be substantiated with written evidence) of employee truck drivers who have received a travel allowance and who are required to sleep away from home is $55.30 per day (formerly a total of $97.40 per day for the 2016/17 year).
If an employee truck driver wants to claim more than the reasonable amount, the whole claim must be substantiated with written evidence, not just the amount in excess of the reasonable amount.
- Reforms to stop companies avoiding employee entitlements
- ATO's occupation-specific guides
- Reporting of transfer balance account information
- Ability to lodge nil activity statements in advance
- Keeping ABN details up to date
- Change to travel expenses for truck drivers
- ATO warning regarding work-related expense claims for 2017
- Extension of the $20,000 SBE Immediate Deduction Threshold
- Simpler BAS is coming soon
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