Hi all.
Is there anywhere you can find the market value of a Mitsi Outlander VG VRX in 2013?
I had it at $22k via Redbook. But can't for the life of me find the print out.
So looking for a market value repository of some kind.
Cheers.
Anyone Know Where to Find Historic Car Market Valuations Year on Year?
tunzafun001 on 31/05/2024 - 23:38
Last edited 01/06/2024 - 00:15
Last edited 01/06/2024 - 00:15
Comments
Find one of the many "what car should I buy?" posts.
Not bad..but it needs to be an actual report (depreciation claim).
How did youbsork oit the depreciation? Can you back calculate?
ZG, I assume?
So you want to know what a 06-09 Outlander was worth in 2013?
The fk?
Yes. Tax audit.
Original books / invoices were stolen. Naturally, as an Ozbargainer I paid for it with a mix of credit cards (sign up bonuses) + a trade in + cash). So thought a market valuation would be easy enough to find.It still won't be a valid valuation, as it's such a large bracket
Original books / invoices were stolen.
Bought from a dealer? If so you may be able to reach out and see if they still had the contract on file. If used, maybe checking account statements for the large purchase that year?
It was a car "broker"… Disappeared off the planet!
Even the very lowest of the bracket will be better than nothing at this stage, which was close to what I paid for it.
Hot tip for others. A 2017 audit is a nightmare. So many receipts are faded, I think they 'may' accept a L/100 km calc for the faded fuel.
Take a photo/ scan basically everything.
Way back machine?
Can you go back to 2013/ 14? Have tried the way back machine before without much luck.
Reached out to Redbook as well.Every insurance company would have it
.. somewhere!
Do you have a copy of your insurance policy for that year?
Yep…
What’s triggered the audit?
I didn't ask?
But I'd assume it's because I live rurally, but only 600m from work (ride a bike to work). But trainings, moving resources etc is often a 1000km return trip. So did a log book (not the generic 5000km thing). So have 70% private.Maybe your work expenses compared to income are too high. What percentage would you say they were?
To work out market value maybe you could calculate it using 22.5% dep rate from new cost price
Definitely e:i was bad that year. I have rentals in a mining town that collapsed and were vacant for 14 months.
But the ATO made plenty the other 15 years. They just don't like it when the tap is broken.The 22.5% dep rate would imply a zero market value in under 5 years? I'm looking at selling it today (11 years later) and have been offered $10k. Which I'm guessing you then need to add back on to income?
@tunzafun001: Much better to harras you over a couple of grand, than multinationals over millions/billions 🙄
@brendanm: Yeah, feels a bit like that.
Classic example is a hat I claimed on protective clothing..$30.
The receipt is faded and won't scan. But you can see it if it catches the light right. Also have the credit card statement with that transaction. But they won't accept the either.
I said, how about I take my receipts in to the ATO building, and someone can site it. Nup
So need to forfeit that $30 legit claim… Which at my tax rate is about $9.
"Only a couple of bucks, is it worth the hassle ?" To me, right now, it absolutely is.
So need to get the car right.Need to work out if I can claim hours on the audit next year. Anyone know if there is a cents per hour situation?
Most of the stuff is massively honerous on me.
For example, my job description. Trying to track down my old job j&p from 2012 (5 year position). Looks like a freedom of information application. Again, rediculous for maybe 800km of travel I need to justify. 800km being about $11 worth of claim.We spent maybe 2hrs on the phone..wonder if she gets paid less than $11 + $9 for 2hrs.
Clearly a process where you are supposed to go "that's too hard", just remove it.
@tunzafun001: That's government efficiency for you. Way easier to screw you and get you to give up. ☹️
@tunzafun001: Think you would need to add the work related percentage of the sale
Did you go via tax agent ?
Surprised they are auditing everything not just the rentals
@Gotchas: I was looking at selling my duplex. Wanted an answer regarding capital gains.Also, wanted to take my tax to an accountant (but needed to move as much of my Dep items as I could to a low value pool - apparently they cant import the schedules). But MyTax kept throwing an error code, No one had a solution (except they said "the low value pool part of MyTax is rubbish, and avoid it at all cost if you can". All calls just disconnect with a message saying call back later. Submitted a complaint. Got a call back from the complaints person, who gave me a number. Called the number (in September). The answering machine said this person was out of office until Feb. So i submitted a Com Ombudsman complaint….and now I'm getting audited!
At least the auditor found an answer to my question.Cheers for work percentage sales part….makes sense.
In case anyone is following this later on…
Redbook can provide a historic valuation report at a cost of $100.
Further follow up. Don't bother for the ATO, after you discuss it, then submit it..they will decide they won't accept it!
Why? It means nothing today. A car is worth what it's worth now.