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Hi there,

You really need to go to a tax accountant as they will need more information. But as a general point, if you have used your car for business purposes you will be entitled to a tax deduction – to make your profit and loss statement a realistic reflection of your business performance, you should probably put the car expense through the business. However, how to do this will depend on things like your business structure (sole trader or company) and proportion of business/private use.

Also if your sales are $7,000, and you are working from home, but the P&L shows a loss you will need to be careful only business expenses (or proportion) have been included. A tax accountant will advise you on this.

All the best,