Quote:
Originally Posted by rods falcon
Yes fair enough with the work versus private %, but as well as a log book being completed interest has to be calculated at the FBT rate and not the actual rate and the depreciation amount applied may be a different rate, making the calculation rather complex and this I why many are saying there will be a lot more additional paperwork. All expenses have to be kept track of.
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I can really appreciate this however if you are running a real business you already need to keep track of any and all expenses. I've got a room full of stuff waiting for the obligatory 5 years to roll over. I would imagine if it doesn't already exist that an app for android/apple/pc is on the way.