Company car-pros and cons?
 

Hi Guys and Girls,

Considering changing jobs and one I am interested in, (if I can get an interview, so unlikely!!:frown:) has a company car included as its a rep position and there will be a lot of travelling. Does anyone know what the tax implications are? I had an idea that the sting you really hard here in Oz by saying its worth $$ on your salary even though you don't actually see the cash and I'm a bit concerned that I would be paying so much more tax as it would take me into the next band up that I could in fact be worse off than I am now, but if I do get an interview its not the sort of thing you want to ask!!

If anyone has one and they know I would be grateful for some info. Would I be better off using my own car for example and claiming milage instead? Just want to be prepared as the scouts used to say.

Thanks!

Re: Company car-pros and cons?
 

Employer pays Fringe Benefit Tax, not you.

Re: Company car-pros and cons?
 

Thanks for that!

Re: Company car-pros and cons?
 

Its pretty much an "all-win" situation.

Good luck with the interview :fingerscrossed:

Pete

Re: Company car-pros and cons?
 

Or.... if you can consider taking the cash in lieu and novate.
Its not for everyone and there are pros and cons but it works for me - effectively have car paid for by company AND I save tax!