Australia- small businnes and buyng/leasing a vehicle?

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tim E

New Member
Hi,

I have recently set up a small business (home based).
I currently work 4days a week in a regular job and am in the process of building up my own small business on nights weekends and 1 day during the week.

My question is, is there any tax benefit, which allows me to purchase, or lease a vehicle, which I can use for both personal use and my own small business use?

If there is a way I can purchase/lease a vehicle in this way, what are the implications /restrictions if any? Can i also claim a % of the rego, fuel, insurance etc?

I also want the vehicle to be sign written/branded with my company logo and phone number - does this make a difference?

Any advice is much appreciated.

Thanks

Tim
 
D

dawson_brister

Guest
Yes you can however before you can work ou the percentage you need to do a log book for 3 months and then calculate the business usage of the car. the ATO is generally happy with anything under 70%. which includes all running costs. Your best to purchase a car with a garunteed by back like BMW is offerinng at the moment whihc allows you 15000 or 20000 a year for 3-5 years and then you get a guranteed buy back price which will protect you against a gap between car value and loan pay out. logo is no tax benifit
 
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