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| question to accountants regarding tax deductions on a mini https://www.ausmini.com/forums/viewtopic.php?f=2&t=88927 |
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| Author: | Mattking [ Sat Mar 21, 2015 12:46 pm ] |
| Post subject: | question to accountants regarding tax deductions on a mini |
Hi all, Are there any accountants out that or people in the know. Basically I have seen a mini pick up for sale and a while back I was thinking of importing one from uk, but there is one for sale in Perth. not sure what its like but didn't want to go take a look until I asked a few questions. Know in short I am self employed, trading under a name but as a sole trader. This mini being a 'pick up' or 'ute' being two doors can I class this as a work vehicle, like my Mazda bt50 2 door tray back, and get all tax breaks, such as deprecation, all fuel and maintenance etc. Matt |
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| Author: | Mattking [ Sat Mar 21, 2015 12:48 pm ] |
| Post subject: | Re: question to accountants regarding tax deductions on a mi |
http://www.gumtree.com.au/s-ad/cotteslo ... 1073919915 |
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| Author: | awdmoke [ Sat Mar 21, 2015 1:19 pm ] |
| Post subject: | Re: question to accountants regarding tax deductions on a mi |
As long as it is primarily used as a work vehicle. * *Not an accountant, but had my own company for many years. |
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| Author: | Mattking [ Sat Mar 21, 2015 1:31 pm ] |
| Post subject: | Re: question to accountants regarding tax deductions on a mi |
So technically speaking if I use it for running around buying stock for work for example but very occasionally I say use it for show or just a run then this is primarily work use ?? And the claims are the same as my daily ute . will double check with my accountant Monday too |
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| Author: | asn993 [ Sat Mar 21, 2015 2:52 pm ] |
| Post subject: | Re: question to accountants regarding tax deductions on a mi |
Hi I am an accountant and have been deducting a work car for many years. Theoretically you are correct. The only problem would be convincing the ATO why one person is deducting two work vehicles that are both essentially the same. Once one vehicle is fully written off or depreciated you could start on the second one only then. Check with your accountant but unless your vehicles were significantly different it is hard. If for example you did removals you could claim your truck and probably also a car to quote jobs. If you have a partner you could always claim 5000 kms on their tax without any receipts if they help you in your business by doing the banking buying stationery or other " bits". A promotional vehicle may work if you drove the fully sign written mini to say your office etc, left it prominently placed, and then picked up your other ute. |
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| Author: | Minimadmarty [ Sat Mar 21, 2015 3:26 pm ] |
| Post subject: | Re: question to accountants regarding tax deductions on a mi |
Being a unquie vehicle fully sign written as asn993 states it's a promo / advertising vehicle I can't see why it wouldn't be tax deductible. As for the ute in Perth you should contact Babes (Jason) and Bomini (Rodney) on here to go check it out. Both are very knowledgeable and always willing to help fellow Mini nuts 
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| Author: | Convertible Mini [ Sat Mar 21, 2015 4:48 pm ] |
| Post subject: | Re: question to accountants regarding tax deductions on a mi |
Square Nose Ute, Pickup...??? were they ever produced. ??? I would say it is not a Genuine Pickup but I could be wrong. Might not even be able to get it registered if it is a cut down Van or something. Do some homework and searching first. |
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| Author: | Babes [ Sat Mar 21, 2015 6:10 pm ] |
| Post subject: | Re: question to accountants regarding tax deductions on a mi |
It is a cut down van, he says it has been engineered and he has the certificate but dont know if that is valid for WA or if it would need to be re engineered. You would have to ring DOT and find out what the go is. I have had several cars written off through businesses and still do. Best part is having them in a business name, if you to through speed cameras you get a request for information. You ignore that, get a $12 fine for failing to provide the information on top of the speeding fine and no one loses any points. You do have to pay the higher business rate for rego though. |
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| Author: | boomini [ Sat Mar 21, 2015 9:15 pm ] |
| Post subject: | Re: question to accountants regarding tax deductions on a mi |
Seeing its registered on nsw plates I would check all compliance avenues first as it will need to be pit passed to be trsnsfered and legally driven here in wa. |
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| Author: | gtogreen1969 [ Sat Mar 21, 2015 9:32 pm ] |
| Post subject: | Re: question to accountants regarding tax deductions on a mi |
boomini wrote: Seeing its registered on nsw plates I would check all compliance avenues first as it will need to be pit passed to be trsnsfered and legally driven here in wa. Reg check says BPA44J 1972 GOLD LEYLAND MINI UTILITY VIN/Chassis: ********2909 At least it doesn't say van. |
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| Author: | Harley [ Sat Mar 21, 2015 11:21 pm ] |
| Post subject: | Re: question to accountants regarding tax deductions on a mi |
Aren't tax depreciation's for cars based on the cars value when new......possibly making this nearly pointless? |
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| Author: | asn993 [ Sun Mar 22, 2015 4:02 pm ] |
| Post subject: | Re: question to accountants regarding tax deductions on a mi |
Depreciation is based on the purchase price of the equipment new or used |
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