Calculate ATO tax deductions using the fixed rate method ($0.67 per work hour) and cents per kilometre method ($0.88/km up to 5,000 km).
Total tax deductions claimable on your tax return: 3'595.00 $AU.
Total Deduction = (WFH Hours × $0.67) + (min(Business KM, 5,000) × $0.88)Cash tax refund = Total Deductions × (Marginal Tax Rate + 2% Medicare).
All calculations, amortizations, and scenario projections displayed on this page are strictly for informational and educational purposes. Nothing herein constitutes investment, financial, tax, or legal advice. Actual ATO tax rates, superannuation rules, RBA cash rates, and lender criteria may vary. Calconova explicitly disclaims all liability for any decisions taken based upon these calculations. Consult an ASIC-licensed financial advisor or CPA prior to executing financial commitments.
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