Aussie Workers: Bigger Car Tax Deductions Coming?

0:00Australians who use their cars for work might snag bigger tax deductions soon. The Australian tax office is reviewing the SENS per kilometer rate, currently at 88 cents per kilometer, and could bump it up for the 2026-2027 financial year. They're set to decide in May, right as fuel prices keep stinging at the pump. This rate has climbed from 66 cents back in 2017-18, holding steady at 88 for the last two years. It covers everything from fuel and servicing to insurance and depreciation for sole traders or partnerships, but caps claims at 5,000 kilometers per car per year. Drivers and workers are feeling the pinch from recent petrol spikes of 45% in March alone pushing inflation higher. Experts say the office looks at motoring costs in the consumer price index over four quarters, but also weighs tax revenue and policies like fuel. The tax office reminds folks to track business versus private use and keep diary records

1:03even if no odometer proof is needed up front. They've rolled out flexible payment plans for those hit by high fuel bills while unions argue the rate lags real costs and urge a quick lift. Keep an eye on that, may call it, could ease the load for commuters hustling on the road. I'm Corey with the story. Watch your Sydney news today update, AI powered and always on.