08 9792 1300

Please contact us if you would like to do an interim income tax review for the 2020/2021 financial year. The new depreciation rules and the ability to write off machinery pool balances may create some interesting tax scenarios and may allow you to vary your March and June PAYG liabilities.

Where you are eligible to claim fuel tax credits, we urge you to review your fuel allocation position. Fuel tax credits are available for off road agricultural purposes and for trucks on road with a GVM of more than 4.5 tonnes

On road use of cars and non trucks are ineligible to claim. Here is a table that provides an example of your fuel calculation and the claim period:

Annual Fuel Use Reconciliation
Vehicle Kilometers /hours Fuel Consumption Total Fuel Used On Road Eligible On Road Ineligible Off Road  

  Fuel Use per Quarter    

Sept Dec March June
Family Wagon 40000 12/100 4800 4500 300 1200 1200 1200 1200
Town ute 30000 10/100 3000 2000 1000 750 750 750 750
Farm Ute 20000 15/100 3000 1000 2000 300 800 1500 400
Primemover 25000 30/100 7500 7300 200 5000 2500
Farm Truck 10000 30/100 3000 1500 1500 750 750 750 750
Boomspray 500 15 7500 7500 3000 1500 3000
Harvester 400 40 16000 16000 16000
Tractor 1000 15 15000 15000 2000 13000
Tractor 500 8 4000 4000 1500 500 1500 500
Totals 63800 8800 7500 47500 7500 28500 8200 19600

Now is a great time to review your vehicle logbooks. These need to be renewed every 5 years, or sooner if you wish to claim additional vehicles as logbooks for multiple vehicles must be prepared concurrently.

For trusts and companies where there is a requirement for an FBT recoup and no log book, it is a flat 20% of the cost price of the car as a recoup less a 1/3 discount for vehicles held after their 3rd year. If a log book is kept it is the lesser of the flat cost rate, or the log book private percentage of the costs including depreciation and interest. For sole traders and partnerships it is either the log book private percentage of the operating costs or a 100% write back, less any eligible cents per kilometre claim.

An eligible vehicle logbook can save you thousands of dollars in tax even if it is only doing 50% business use.

December Quarter PAYG is due for payment 02/03/2021. December BAS is due for lodgement 02/03/2021

Our firm welcomes our new receptionist for the Bunbury office – Bree Savage.  Bree comes from working in Busselton at Mandalay Resort so is very experienced in customer service.  Bree has now started in a new industry and we look forward to all our clients meeting her over the course of the next few months as our Bunbury office first point of contact.

We are always keen to talk with accounting graduates and undergraduates looking for employment opportunities, if you know of any potential candidates please have them contact us.


 Date  Obligation
2 March 2021 – Lodge and pay December 2020 quarterly BAS
– Lodge and pay December 2020 quarterly instalment notice
– Lodge and pay SMSF annual return for new SMSFs (unless otherwise advised)
14 March 2021 Report JobKeeper Extension 2 February turnover
21 March 2021 Lodge and pay February 2021 monthly PAYG Withholding
31 March 2021 Lodge tax returns for individuals and trusts where prior year tax liability >$20,000
14 April 2021 Report JobKeeper Extension 2 March turnover