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.
- 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
- Who is assessed on interest on bank accounts?
- More taxpayers can access the benefits of being an 'SBE'
- 2017/18 Federal Budget
- Changes to the franking of dividends
- Increase to SBE Turnover Threshold
- Super changes may require action by 30 June 2017