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My old car and tax return

My old car and tax return

Old Apr 6th 2010, 8:31 am
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Question My old car and tax return

Folks,

I sold my car few months ago and am just wondering if I have to pay anything when it comes to file my tax return in July...is that some sort of taxable income
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Old Apr 6th 2010, 12:08 pm
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Default Re: My old car and tax return

Originally Posted by Barbitana View Post
Folks,

I sold my car few months ago and am just wondering if I have to pay anything when it comes to file my tax return in July...is that some sort of taxable income
If you're in Australia, only on the bank interest....

In short, not that I've ever heard.....
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Old Apr 7th 2010, 3:42 am
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Default Re: My old car and tax return

Originally Posted by Barbitana View Post
I sold my car few months ago and am just wondering if I have to pay anything when it comes to file my tax return in July...is that some sort of taxable income
The money you got for your car is not taxable income (I presume you sold it for less than what you paid for it ).
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