If you are in Australia, New Zealand, UK, Canada, South Africa, Ireland, Netherlands, France or Canada, you can use the logbook method (tax purposes) to claim the business use (%) on your vehicle.
IQBoxy helps you achieve this by simplifying the record keeping of percentage vehicle use, travelled, car expenses like fuel and oil costs or odometer records on which your estimates to your country's tax office must be based. The history of your travels is then conveniently available anytime by generating a report.
Logbook - ATO (Australian Tax Office) Method 4
IQBoxy's Logbook is fully compliant with ATO (Australian Tax Office) requirement under method 4 - logbook to claim a percentage business use of your vehicle.. The ATO requires a logbook be kept for a continuous 12 week period. As long as this period is representative of the normal business use of the vehicle it remains valid for five years. To learn more about the logbook method rules set by the ATO, see the ATO website here: https://www.ato.gov.au/Business/Deductions-for-business/Motor-vehicle-expenses/Calculating-your-deduction/Method-4---logbook/.
IQBoxy's Logbook supports:
- Multiple (n/infinity) vehicles. Setup as many as you like. Great for fleet companies.
- Detailed reporting requested within the app & emailed to your inbox - all calculations done for you for reimbursement,
- Full in app management of historical records - full control,
- GPS calculations that don't suck your battery (see below under why us),
- Attach your vehicle expenses (receipts) like fuel, maintenance, etc.. to your trip for a more accurate expense reimbursement.
- Linked Accounts to share your work related travel with your employer for instant transparency and reimbursement without having to manually do it later.
Did you know? You can claim the cost of this app in your tax return. It is a legitimate expense and is fully tax deductible.
How to track vehicle usage
1. From left menu select "Logbook". Welcome to the Logbook (pictured to the left). First time here you will need to add a vehicle. Click on “Vehicles” located at the top of the screen in the switch menu. Then follow through by pressing the plus button to add a Vehicle.
2. You can add as many vehicles as your like. There is no limit. Once you are done. Flip back to “Trips” by pressing the “Trips” in the top switch menu. Now you can begin adding a Trip by pressing the plus button located top right of the view.
3. The start your tripe view (pictured left) has all the necessary fields required for tax reimbursements (ATO’s Method 4). The start location will auto populate based on Location Services coordinates.
Important: It is important that Location Services are turned ON. Read more about Location Services to understand it's importance in attaining a good Latitude and Longitude.
When you are ready to start a trip, press the Big Blue “Start Trip” button. You can’t miss it. When the trip starts this blue button will turn red.
4. A trip starts and you can dim your phone and carry on. The app is designed to consume a very small amount of battery during your trip. You will be surprised.
When you have finished your trip, open up the app and press the big red “Stop Trip” button.
- You can map a receipt (financial transaction) to your trip. Press the receipt icon button located far right in the header navigation. See above screenshot which shows 1 receipt (number 1 over the receipt icon) mapped to the new trip.
- If location services fails to automatically locate your starting position address, either manually type it or press the arrow button to tell it to try again.
- When a trip ends, the end location is automatically populated using location services. Like with starting position, you can overwrite it or tell the app to try to locate your end address again.
- Also when the trip ends, the app will calculate the distance (in miles/km based on geographic region) traveled automatically for you.
Tracking vehicle expenses
We believe that tracking a trip is just 1 part of the picture. An average trip typically incurs expenses like fuel, lunch, tolls etc.. With our integrated Receipts system at the core of IQBoxy you can attach your receipts to a Trip.
Example: Say before your trip, you filled the car up with petrol/gas. You would have scanned the fuel receipt into IQBoxy. Then on your trip you passed a toll bridge with a receipt being emailed to your IQBoxy email address. You used IQBoxy's Logbook to track you trip, you can now attach those 2 expenses (receipts) to this trip by pressing the receipt icon in the header navigation (shown left with a blue circle and #1 inside it).
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