How do I deduct the running cost of my car for my business? Is it in my personal name or in the business? Should the business pay, or should I pay?

If your car is under your personal name, a tax deduction can be claimed on expenses for the car when you have been using your car for business purposes. You can deduct your running costs by showing the distance travelled (km) that was used for business purposes (must between workplaces). Methods to claim deductions include logbooks, claiming cents per km up to 5,000km per car.

If the car is owned by the company, the expenses of the car for business purposes will be deductible, and you will be able to claim 100% of the running costs, depreciation costs etc.