Question: From the following information, calculate the motor vehicle expense for Mr. John Schofield with all available alternatives and select the most appropriate option for tax purpose.
He bought a Honda Accord for $28,000 on 25th July 2013. It has an engine capacity of 2.6 litres. In the current financial year he has travelled 22,000 km in total. He has kept a log book that shows 18,000 km is for work purpose. He has incurred the following expenditures for the motor vehicle:
• Petrol: $1600
• Depreciation: $2812
• Registration: $350
• Insurance: $600
• Tyres and Battery: $1075
• Servicing: $525
He has all the records for expenses.