suzimc

I'm just wondering if they're worthwhile if you're not going to do a lot of business mileage?

Also, assuming we did go ahead with it, anyone know any good places to find out what sort of residual values/depreciation rates we would be looking at for different cars?

renth

Not worth it unless you are doing at least 25k per year. Also not worth it if you can afford to buy the car without finance.

Plug

I looked into this a while back and it looked great until I found out I had to pay the Fringe Benefit Tax, some companies pay that for their employees, not mine. You get penalised quite severely if you don't clock up the agree k's.

suzimc

Yeah, I don't think my hubbie's does either...

themerlin

They don't have to be business miles though, not like the UK.
So you can drive to Perth and back a few time to save on tax, not sure how thats good for the environment though

suzimc

Really? I was under the impression they had to be business miles... that put's a slightly different angle on things.

Mipik

I have a car on a novated lease as part of my package. So I have a choice of either taking the car or paying tax on the money, no brainer really.

All km driven count, regardless if it is for business or personal use.
You do not have to keep any sort of records.

Some fleet companies (they provide the vehicles and all assorted paperwork/service) have good calculators on their websites.

Try googling ESANDA, I think theirs has some pretty comprehensive calculators with all the details of FBT, residual values (these are regulated) and so on.

suzimc

Thanks Mipik, I'll take a look at the website you mentioned.

Part of it is deciding whether to have a car at all...