Buying a ute for property management?

If you self manage,then the klm,s to pick up the rents would be able to be claimed,plus any time you do any maintenance buy materials ect,i have a old ute value zero depreciation left unless i fill the ute up,but tax wise per klm's at tax time works out very well as long as you keep a log book..

 

plus any time....

No. Your labour is free and cannot be included as a cost.

 

Why get a 4x4 at all if you're not planning on going off roading? Just get a 4x2 which will be a lot cheaper but perform the same task.

Or even something like a VW Caddy would be more fit for purpose?

 

Because Im delusionally thinking that in the next five years I might get a boat and need a car that can drop it off at the boat ramp...

 

Sorry about that ,i mean the klm's from the property when you have to buy materials then back too the property,yes the labour is free..

 

Sounds like some or most of the ute use will be capital in nature and non-deductible and this will taint 100% of the claim. Your diary / log records may even need to cover more than just a 12 week period (non representative of the year) and that this needs to apportion for all the types of use so a reasonable estimate can be made for what is deductible to what is not.

 

So

Ok good point. So if the works create capital growth (building works) then you cant claim associated building costs? Or you can only claim them as a capital cost which would offset your capital gains tax if you ever sold it?

Is that even though Im actually adding more house to get more rent? And Im not actually selling the properties?

 

Bingo! There we have it, the real desire for a ute. Is it going to be lime green?

 

Nah lol I do need a ute for work. Currently have circular saws and grinders, and drills and tile cutters and blah blah blah all in the back seats and boot of a falcon. It's a nightmare. Would love a ute that I can store stuff in with a bit of organisation. And the worst thing about the falcon (besides it being a falcon), is when you're sorting through tools on top of tools the bloody boot lid falls down because the struts are on their way out and the boot smashes you square in the back.

lol the idea about the boat is just a pipe dream. But I figure if I get 4 wheel drive capability then I put off killing my dream for a little while longer

 

Yes. Building it, renovating it, extending it, improvements (rather than specific repairs) are non-deductible as capital expenditure. Fourth element of the cost base : What is the cost base? | Australian Taxation Office

 

My bro just did that. The Bogun Machine I called it. He lives near Logan.
He is a accountant. Go figure.

 

Not many boat ramps around where you need low range to get out....

Even 4x2's have decent towing capacity where they're 750kg unbraked and in the tonnes braked for the most part. Just seems like overkill as you pay extra for a 4x4.

 

The boat and trailer I want weighs 2000kg.

 

All 4x2 specs (braked):
Triton: 2500kg
Colorado: 3500kg
D-max: 2500kg
BT-50: 3500kg
Hilux: 2500kg

 

It would be cheapest to repair the strut on the falcon boot and keep claiming business expenses on running the car.

Would you like a Ferrari with a trailer, my trailer is pretty macho.

I'm still stirring you, Tim. I could tell you wanted a big ute to tow your boat. I would suggest blue.

 

Im looking at the triton. Its 37k for the 4x4 and 35k for the 4x2.

You lose 600kg towing capacity with the 4x2.

Seems crazy to cheap out on $2000 and tank your resale and reduce your capabilities significantly.

 

Fair call. I thought the price difference was greater between the 2. Or at least it is here in Cairns when I went ute shopping recently....

 

Its a falcon so the cheapest thing is to burn it.

You get sick of being hit with random 2k bills for crap breaking.

 

Single cab chassis is significantly cheaper in the 4x2. But the towing capacity is much less.

Mitsubishi Triton 4x2 and 4x4 Range - Utes - Mitsubishi Australia

 

Yep