Setting up a company - Cars
Jul 30th 2004, 10:31 am
#1
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Setting up a company - Cars
I was wondering if anyone knew any info about buying a car when you have set up a company. My other half is driving me mad at the mo insisting that we should not order a car until we have set up the company.
He insists that it will be cheaper or we will be able to claim back tax? I said that we should just buy it anyway.
Any views?
He insists that it will be cheaper or we will be able to claim back tax? I said that we should just buy it anyway.
Any views?
Jul 30th 2004, 10:40 am
#2
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Location: Gold Coast- the best place in the world
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If you register as your own business:
You can spend up to a maximum of approx $60 000 on a car and can claim back 19% of its depretiation a year over 5 years. So basically you can claim it back in tax benefits over 5 years.
As long as you register the car to the business I believe it does not matter if you buy the car first. We bought ours first and our accountant has said it is fine.
You can spend up to a maximum of approx $60 000 on a car and can claim back 19% of its depretiation a year over 5 years. So basically you can claim it back in tax benefits over 5 years.
As long as you register the car to the business I believe it does not matter if you buy the car first. We bought ours first and our accountant has said it is fine.
Jul 30th 2004, 10:44 am
#3
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Originally posted by tinaj
If you register as your own business:
You can spend up to a maximum of approx $60 000 on a car and can claim back 19% of its depretiation a year over 5 years. So basically you can claim it back in tax benefits over 5 years.
As long as you register the car to the business I believe it does not matter if you buy the car first. We bought ours first and our accountant has said it is fine.
If you register as your own business:
You can spend up to a maximum of approx $60 000 on a car and can claim back 19% of its depretiation a year over 5 years. So basically you can claim it back in tax benefits over 5 years.
As long as you register the car to the business I believe it does not matter if you buy the car first. We bought ours first and our accountant has said it is fine.
We will have to sort it out when we arirve then by the sounds of things as I was going to order it now - but I suppose I still could.
We will be up o the Sunny coast to look at some businesses - although we were hoping o go to the Gold Coast it seems that we may change our minds
Jul 30th 2004, 10:47 am
#4
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Location: Gold Coast- the best place in the world
Posts: 3,196
I reckon it is much better up here! And with the population set to double over the next 10 years most businesses will be onto a winner here. They say 150+ families are still moving to the coast every week, mainly from NSW and Victoria. The climate, surroundings and lifestyle are hard to beat.
