Claiming Car Expenses for Real Estate Agents

For a real estate agent, a car is not just transport; it's a mobile office and a marketing tool. You likely drive significantly more than the average worker.

Logbook Method (Recommended)

Because agents drive high kilometers (often over 20,000km/year), the Logbook Method usually results in a much larger tax deduction than the 'cents per km' method (which is capped at 5,000km).

Requirement: You must keep a valid logbook for 12 continuous weeks. This logbook is valid for 5 years. If your business use is 90%, you can claim 90% of:
- Fuel
- Registration & Insurance
- Servicing & Repairs
- Lease Payments or Depreciation

Luxury Car Limits

Agents often drive luxury cars. Be aware of the Luxury Car Depreciation Limit (approx $68k). You cannot claim depreciation on the value of the car above this limit.