FNSACC601 - Task 7 – Motor Vehicle Expenses

Task 7 – Motor Vehicle Expenses

Daniel purchased and used a 3000cc motor vehicle on 1 July 2017 with an effective life of 8 years and maintained a logbook for 12 weeks during the year.

During the 12-week period, Daniel travelled 1,200kms which were all business related. Costs incurred during 2017/18 year include:

Note: The car had a market value of $60,000 when purchased.

Required:

Show all methods of calculating the motor vehicle expenses and choose the most advantageous method for Daniel for the year ended 30 June 2018.