ABN Holder and user Salesperson, who travels with car to different places around Australia, including locally 20,000 Write OFF?

LMorning Glory on 26/06/2016 - 19:25

Hello Everyone, This is aimed at Accountants who I would greatly appreciate advice from! I know looking on the interntet for advice isnt always the most wise thing to do though this website seems to have some stand up citizens. And, No I do not have an accountant either hence the question (I've never needed one until I've realised recently might be a good idea). ANYHoooooooooo

I currently have an ABN which is attached to a Sole Trader operating business (Salesperson). I travel locally to the office, all of my pay comes through Invoicing and attached to my ABN.

I am also Starting to gig as a Solo Act next financial year and use the vehicle for travel to gigs, band practice etc.

This Question is around the 20,000 Write off.

I wish to upgrade my car (purchase something a little newer 2013 for around $15,000) which I use for work before the end of the financial year.

only just thought of this idea today to take advantage of the scheme.

Everything I have read leads to it being okay, but before I do was seeing if there are any more opinions or advice on the matter!

Thank you Kindly

Financial

Comments

  • thepigs on 26/06/2016 - 20:10

    i think you can ring the ATO to find out.

  • Morning Glory on 26/06/2016 - 21:14

    tried that but they were un reachable service difficulties still with website down, will try tomorrow.

    Cheers

  • matthew8 on 26/06/2016 - 21:20

    Not exactly credible….
    I was looking at a S/H late model last week for work & had a car salesman tell me I could write it all off, quick buy it before the EOFY.!

  • mrsi on 27/06/2016 - 08:32

    If this year you are only travelling to your office, you can't claim that as a work expense.
    You have to get to and from your workplace of your own accord.

    Travelling office - client is allowable, and then you may be able to. However if you are using also for personal purposes, it gets more complicated.

    See an accountant.

  • piggyfund on 27/06/2016 - 16:09

    In short - the whole $20K is not a tax write off, you will need to keep a log book and you may be able to claim depreciation on the car as well but as others have suggested, you need to get a good accountant to help you as there are various rules only they would know about, it also depends on what your occupation allows as a tax deduction. If you pay an accountant $400 and get a refund of much much more will be well worth it. If they say flatly 'no' you may need to rethink how you run your business. Problem with net advice is it is often out of date. Plus if you put through an 'odd' tax claim you will be audited by the ATO. If you are not careful with putting aside tax - you may end up owing money to the ATO rather than getting a refund end of year. Good luck with your music career.

    • Morning Glory on 27/06/2016 - 17:26
      +1

      As i thought the accountant may be the way to go. Thanks for the kind words.

Login or Join to leave a comment
Login Join