Hi All! I was wondering if any other business owners or people who know of methods other busines owners have used to purchase a car via a company they own/ are a director of.
So far I know that:
1. Certain electric vehicles have an exemption in FBT
2. The small business write off is no longer 150K so we have to depreciate it
3. I don't pay myself a salary as I have another job so novated leases seem to be out of the question.
For me the main thing is cashflow and I don't want to drop 50 - 70K in one hit. So what are the most creative ways you know of that people buy themselves cars via their business but legally according to the eyes of the ATO.
I also want to try expense as much of it as I can. I guess the question is if something was a pure car lease that ends up costing more in the long run - but can the full amount be expensed each time?
You get the gist.
You'd think that when you owned a company, you'd also be wise enough to consult an accountant for important business related purchases/tax implications
Or, just randoms on ozb. Same same.