forrestd Member 80 Member For: 22y 24d Posted 06/08/03 02:27 PM Share Posted 06/08/03 02:27 PM I today received a written response from the ATO on this FBT exemption thing. I asked them to confirm that a regular office worker in the finance industry can claim the FBT exemption for these cars (under the private use conditions of course) under a novated lease arrangement.Guess what?... it was a bit fat..YES!In writing, signed by the deputy commissioner of taxation.I have since told the salary packaging people, who previously told me I would have to be a 'tradesman' carrying around a bunch of tools in the tray in order to claim the exemption.They were wrong. If I took their advice I would be out of pocket $18k over lease term. And they are supposed to be the experts..... So Joe Programmer working anywhere can take out a novated lease on certain "commercial" cars and effective pay hald the monthly lease payment....... Link to comment Share on other sites More sharing options...
tongueboy Member 457 Member For: 21y 9m 18d Gender: Male Location: Tamworth, Armidale NSW Posted 06/08/03 07:42 PM Share Posted 06/08/03 07:42 PM ...mmmmm...sounds interesting..... mmmm Link to comment Share on other sites More sharing options...
tintR Member 154 Member For: 21y 5m 28d Location: Ferntree Gully, Victoria Posted 12/08/03 01:10 PM Share Posted 12/08/03 01:10 PM This is why I bought one Link to comment Share on other sites More sharing options...
F6 RAPID Formerly Turbo6 Donating Members 2,332 Member For: 22y 10d Location: North Brisbane Posted 14/08/03 07:53 AM Share Posted 14/08/03 07:53 AM Not the reason I bought mine - but great nonetheless!!!!! Link to comment Share on other sites More sharing options...
junior Member 95 Member For: 21y 7m 26d Gender: Male Location: Kellyville, Sydney Posted 14/08/03 08:12 AM Share Posted 14/08/03 08:12 AM forrestd any chance I can get a copy of that letter . Just incase my accountant wants to argue again.!!!!!!!4 more days till my beast arrives Link to comment Share on other sites More sharing options...
forrestd Member 80 Member For: 22y 24d Posted 14/08/03 08:30 AM Share Posted 14/08/03 08:30 AM surehere is the email with my question:> -----Original Message-----> Sent: Thursday, 19 June 2003 10:13 AM> To: 'BTRadvice@ATO.gov.au'> Subject: FBT exempt vehicles> > > Taxation Ruling MT2024 (and addendum MT2024A) lists specifc vehicles asFBT exempt where private use is limited to work related travel (includingtravel to and from work). > > My questions are:> > Is there an updated list of such vehicles?> > Is there any reason why a regular employee cannot undertake a novatedlease for such a vehicle and obtain the FBT exemption, assuming they followthe private use requirements?> > thanks> > Duncan>They wrote back (regular mail) - here is the response: (3 pages)http://members.optusnet.com.au/~duncanforr...est/fbt0001.JPGhttp://members.optusnet.com.au/~duncanforr...est/fbt0003.JPGhttp://members.optusnet.com.au/~duncanforr...est/fbt0004.JPGA list of eligble and ineligible cars can be found here:http://law.ato.gov.au/atolaw/view.htm?basi...A/NAT/ATO/00001 Link to comment Share on other sites More sharing options...
junior Member 95 Member For: 21y 7m 26d Gender: Male Location: Kellyville, Sydney Posted 14/08/03 08:46 AM Share Posted 14/08/03 08:46 AM Why is the falcon ute missing from the commercial vehicle list.both 6 cylinder and v8 Late model camira utes are there.The ford utes can carry a much larger load than the holdens and in my opinion should be on the list. Link to comment Share on other sites More sharing options...
junior Member 95 Member For: 21y 7m 26d Gender: Male Location: Kellyville, Sydney Posted 14/08/03 08:48 AM Share Posted 14/08/03 08:48 AM oops just looking again and the list seems to be very old (1999)seems funny now that the v8 Expensive Daewoo had only 179 kw how times have changed Link to comment Share on other sites More sharing options...
Dagabond Bored Member Administrator 35,722 Member For: 22y 2m 4d Gender: Male Location: Dé·jà vu Posted 14/08/03 11:23 AM Share Posted 14/08/03 11:23 AM Well this thread garuntee's that my next vehicle will definatly be of the ute variety.Thanks for the update forrestd now I've just got to learn how to speak taxashinish so I can understand half of it. Link to comment Share on other sites More sharing options...
XRTank Donating Members 105 Member For: 22y 2m Location: Sydney Posted 20/08/03 08:53 AM Author Share Posted 20/08/03 08:53 AM Ford has provided a list of vehicles which they consider to be eligible for FBT exemption in relation to taxation ruling MT2024...MT_20241.xls Link to comment Share on other sites More sharing options...
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