car expenses cents per km

Ah, the classic Australian way to gauge your car's financial appetite: cents per kilometre. The ATO sets this rate annually, and for 2023-24, it's around 78 cents per km for cars under 4.5 tonnes. This rate covers fuel, maintenance, depreciation, insurance, and even that mysterious tyre wear from your weekend getaways. New cars might cost more upfront but could lower your cents per km due to better fuel efficiency. Used cars vary wildly, so always run your own numbers.

For the nitty-gritty and to claim your rightful deductions, check the official ATO guidelines or visit ServiceCentral.