Proposed cents per km rate change
A draft legislative instrument has been issued proposing an increase to the cents per km rate for claiming deductions for work-related car expenses under Division 28.
The rate is proposed to increase from the current 68 cents per km to 72 cents per km commencing from 1 July 2020 (i.e. the 2021 income year).
This would increase the maximum claim under this method (i.e. for 5,000 business kms) from $3,400 to $3,600.
The rates from April 1 2020:
Engine capacity 0-2500cc - 56 cents/km
Engine capacity over 2500cc - 67 cents/km
Motorcycles - 17 cents/km
Reasonable amounts for food and drink
The ruling sets out the reasonable amounts for food and drink incurred by employees receiving the living away from home benefit from 1 April 2020.
One adult - $276/week
Two adults - $414/week
Three adults - $552/week
One adult and one child - $345/week
Two adults and one child - $483/week
Two adults and two children - $552/week
Two adults and three children - $621/week
Three adults and one child - $621/week
Three adults and two children - $690/week
Four adults - $690/week
An adult is a person who has attained the age of 12 years before the beginning of the FBT year.
For larger family groups, the reasonable food and drink is the above amounts plus:
$138 for each additional adult
$69 for each additional child
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