From 1 July, 2017 the ATO has slashed the amount a driver can claim for reasonable travel expenses from $97.40 per day to $55.30 per day. This will have a serious impact for drivers whose employers pay an allowance greater than the $55.30 reasonable travel expense.
Drivers should discuss this with their employers to confirm what allowance amounts are being paid and they should ensure the allowance amount is less than $55.30 to ensure they are not left with a tax liability at the end of the financial year. If a truck driver wishes to claim more than $55.30 each day while they are away from home they should keep all receipts for meals whilst away.
For example if a driver spends $70.00 per day while away from home he/she should keep every receipt to substantiate the claim, if they have the necessary receipts they will be able to claim the $70.00 per day, however if they do not have the necessary receipts it may be prudent to just claim the reasonable amount of $55.30.