Comments on: No tax relief on petrol for work-related travel http://www.crikey.com.au/2008/06/19/no-tax-relief-on-petrol-for-work-related-travel/ now with extra source Sun, 12 Feb 2012 02:48:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: John Riddell http://www.crikey.com.au/2008/06/19/no-tax-relief-on-petrol-for-work-related-travel/#comment-16321 John Riddell Thu, 01 Jan 1970 10:00:00 +0000 #comment-16321 Although somewhat unrelated, this is a common Government ploy.<br /><br />In 2001 the Howard government introduced the Commonwealth Seniors Health Card giving self funded retirees access to pharmaceuticals at the same price as pensioners etc. There was an income test applied of $80,000 for couples and $50,000 for singles. This income limit has remained the same for seven years and many self funded retirees (who do not receive a pension saving the government at least $25,000 a year for couples) have lost access to the Card because of rising incomes.<br /><br />My wife and I have just "fallen" off the perch and it hurts!!!! Although somewhat unrelated, this is a common Government ploy.

In 2001 the Howard government introduced the Commonwealth Seniors Health Card giving self funded retirees access to pharmaceuticals at the same price as pensioners etc. There was an income test applied of $80,000 for couples and $50,000 for singles. This income limit has remained the same for seven years and many self funded retirees (who do not receive a pension saving the government at least $25,000 a year for couples) have lost access to the Card because of rising incomes.

My wife and I have just “fallen” off the perch and it hurts!!!!

]]> By: Ian McAuley http://www.crikey.com.au/2008/06/19/no-tax-relief-on-petrol-for-work-related-travel/#comment-16322 Ian McAuley Thu, 01 Jan 1970 10:00:00 +0000 #comment-16322 The rates -- 58, 69 and 70 cents -- are still generous. If one uses proper life-cycle costing, a real opportunity cost of funds (rather than finance company nominal rates), and a realistic assumption about vehicle life (300,000 km), does not assume the vehicle is over-insured, and does not double-count interest and depreciation (as the motoring clubs do), then 50 cents is reasonable for most medium sized cars, even with high gasoline prices. The rates — 58, 69 and 70 cents — are still generous. If one uses proper life-cycle costing, a real opportunity cost of funds (rather than finance company nominal rates), and a realistic assumption about vehicle life (300,000 km), does not assume the vehicle is over-insured, and does not double-count interest and depreciation (as the motoring clubs do), then 50 cents is reasonable for most medium sized cars, even with high gasoline prices.

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