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CAR DEPRECIATION COST LIMIT – 2008/09 |
|
The motor vehicle depreciation cost limit is $57,180 for 2009/2010 and $57,466 for
2010/2011. Effective life of cars increased from 6 years to 8 years for cars acquired on
or after 1 July 2002. |
| CAR EXPENSES 2009/2010 KILOMETRE RATES |
| Rotary Engines |
Conventional Engines |
Cents per km |
| 0 – 800 cc |
0 – 1600 cc |
63 |
| 801 – 1,300 cc |
1,601 – 2600 cc |
74 |
| 1,300 cc + |
2,601 cc + |
75 |
| CAR FRINGE BENEFITS STATUTORY FORMULA RATES |
| Total kilometres travelled during year |
Statutory percentage |
| Less than 15,000 |
26% |
| 15,000 to 24,999 |
20% |
| 25,000 to 40,000 |
11% |
| Over 40,000 |
7% |
Last updated: July 2010
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