Thinking about buying a car but not sure whether I should buy in company/personal name?? Not sure what the real benefits? I recall some years ago our accountant advised against this. Thanks MTR
What % business use Vs personal use? Read this thread: https://propertychat.com.au/community/threads/car-finance-tips.2720/
My accountant basically said is if it's 100% business use and it's under $20k, FBT free vehicle (ute etc) and you meet the small business requirements so can claim the $20k in one year - then go for it. Other wise it's a lot of paperwork for very little benefit and especially NO if we wanted to go over the luxury car tax amount
Great, very helpful, I wanted the nuts and bolts of it. Pretty much give it a miss and buy in personal name, save myself the headache of paper work . Thanks All MTR