1st Quarter 2026

CLAIMING A DEDUCTION FOR CAR EXPENSES

To claim a deduction for car expenses:

• Your vehicle must meet the definition of a car.
• You must own or lease the car. You do not own or lease the car if you use it under a salary sacrifice or novated lease arrangement.

The Australian Taxation Office (ATO) has issued guidance on how to ensure effective tax governance when clients are closing some or all of their business or private group structure.

Below are the top 10 tips for rental property owners in avoiding common mistakes at tax time. 

1. GETTING INITIAL REPAIRS RIGHT

Initial repairs include any maintenance or improvements prior to getting tenants in. They include existing damage or work required when you bought the property, even if you don’t fix the issues immediately.

They’re advising from your insta and TikTok feeds, they’ve got huge followings, they speak with conviction - financial influencers or ‘finfluencers’. Please heed our caution, taking advice from unqualified sources can have serious consequences.