Henz Tampon inserted, Auto Acquired, next purchase a new handbag Donating Members 9,946 Member For: 16y 10m 19d Gender: Male Location: Vic Posted 01/04/09 10:21 AM Share Posted 01/04/09 10:21 AM I was thinking about this, but dont get too excited, do all the maths first.If your making $75k, u will save about $3k in the 1st year if you buy a 50k ute, hardly worth it if you are struggling due to recesionSaying you'll save 15grand gets people a bit excited, which I guess is what ruddy wants.... Link to comment Share on other sites More sharing options...
ronburgundy I love gooold member Donating Members 1,222 Member For: 16y 1m 5d Gender: Male Location: Melbourne (west) Posted 01/04/09 09:04 PM Share Posted 01/04/09 09:04 PM Example 1.5 from the Explanatory Memorandum:Belinda is contemplating the purchase of a ‘demonstrator’ vehicle from a dealer for $25,000 to use in her business. Although the dealer had acquired the car new from the factory, he would regularly use the car to drive to and from work. The prior use by the car dealer does not constitute reasonable testing and trialling of the car. Therefore the car is not considered new and Belinda would not be eligible to claim the Tax Break for the car.In other words - you need to ask the dealer what it was used for! Link to comment Share on other sites More sharing options...
jetute Donating Members 4,553 Member For: 21y 6d Gender: Male Location: brisbane Posted 02/04/09 03:16 AM Share Posted 02/04/09 03:16 AM Yeah the initial announcement was for a 10% allowance back in December, which they've revised to 30% as part of the more recent stimulus package. I think I/we have mentioned this over in the Tougher Times Ahead thread.Provided you can legitimately justify your car as a business expense yes this is absolutely an excellent time to get one. Perhaps even put the hard word on your employer to give you that work car you've been wanting!BEWARE as I said this is not law, however we've received draft legislation which SPECIFICALLY EXCLUDES demo models. The asset must be completely new.The ato site has a link to attachment which states that DEMOs are NOT excluded. Link to comment Share on other sites More sharing options...
ronburgundy I love gooold member Donating Members 1,222 Member For: 16y 1m 5d Gender: Male Location: Melbourne (west) Posted 02/04/09 03:23 AM Share Posted 02/04/09 03:23 AM Ummm have a look at the post just above yours. If it is a genuine demo then yes I agree.If the car has been used by the dealer/staff then it IS excluded. Link to comment Share on other sites More sharing options...
jetute Donating Members 4,553 Member For: 21y 6d Gender: Male Location: brisbane Posted 02/04/09 03:25 AM Share Posted 02/04/09 03:25 AM ronthat makes sense about the genuine demo.here is a cut and paste fron the treasury site"Question 33 — Are ‘demonstrator’ vehicles eligible?75. Demonstrator vehicles can qualify as ‘new’ assets provided they have only been used for reasonable testing and trialling.Legislation: Schedule 1, item 4, section 41-20Explanatory memorandum: Paragraph 1.60" Link to comment Share on other sites More sharing options...
ronburgundy I love gooold member Donating Members 1,222 Member For: 16y 1m 5d Gender: Male Location: Melbourne (west) Posted 02/04/09 03:27 AM Share Posted 02/04/09 03:27 AM Yup agreed 100%.Again (I know I'm banging on about this but call it an occupational hazard) this is only draft at the moment.Just a general word of warning. Link to comment Share on other sites More sharing options...
nang3 12" member Donating Members 2,107 Member For: 19y 7m 15d Location: Perth WA Posted 16/04/09 11:24 PM Share Posted 16/04/09 11:24 PM so is there an easy way I can get a new car and claim all teh shizzle even though im not a company hahaha.. I wish it was as easy as getting an ABN and claim claim claim away !!!!!!!!! Link to comment Share on other sites More sharing options...
Brandonn Donating Members 2,304 Member For: 16y 4m 23d Gender: Male Location: port hedland Posted 17/04/09 04:59 AM Share Posted 17/04/09 04:59 AM HANG ON HANG ONso your all saying if I was to go a new xr6 turbo worth 40khow much would it cost me? Link to comment Share on other sites More sharing options...
tab Sucker Moderating Team 32,303 Member For: 20y 9m 14d Gender: Male Location: Brisbane Posted 17/04/09 05:22 AM Share Posted 17/04/09 05:22 AM $40k Link to comment Share on other sites More sharing options...
Brandonn Donating Members 2,304 Member For: 16y 4m 23d Gender: Male Location: port hedland Posted 17/04/09 05:25 AM Share Posted 17/04/09 05:25 AM but how much extra tax would I get back? Link to comment Share on other sites More sharing options...
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