IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you.

Keeping a log of your motor vehicle mileage is an important (and often overlooked) aspect of your record keeping. In this article I will give you some pointers on how to properly maintain the required records. The requirements and issues are different for each of the three methods of accounting for motor vehicle expenses (for a primer on the different methods of handling motor vehicle expenses check out our earlier article “Pimping your Ride“):

IMPORTANT: This post is specific to New Zealand. If you are not a New Zealand business/taxpayer then it is probably not applicable to you.

Having access to a vehicle is quite a necessity for a business these days. If you are in business for yourself your company vehicle is probably also the family car. This gives rise to some interesting tax questions about how much of your ride you can claim as a valid business deduction. There are a lot of things to consider – more than I can go through in this short article, but here are the three main methods for claiming a vehicle on your tax return.