Hey all,
So I have just decided to upgrade my car to a new model after a while of owning it. After getting some good discounts via the dealer, they also offered me the abn holder discount of $1000. I myself don’t have an abn but my Mother and Sister have a joint business, profitable and is GST registered.
After speaking to the dealer, they assured me that it is no more than a dealer rebate that they receive and the car does not need to be registered in the business name. Therefore it is just to show Nissan an ABN.
My question is. Is it that simple? Will they need to claim any deductions/tax on the vehicle ? My sister is quite worried about the fringe benifits tax as it will be 98% used by me and not for business use. I know I am able to register it in my name. If the car is financed, will it become an asset of the business? Will my insurance premium be higher? Same with registration, tolls and traffic infringements.
Dealer was quite light on these subjects. Quick to make a buck. If it’s a hassle I’d rather pay the extra $1000.
Thanks!
just get a free abn in your own name as a sole trader