• The place to find the right expertise and make better decisions
  • Find the right expertise
Alan M.
Alan M.
Branchview, QLD
1 Likes
0 Followers

I have started a handymen buisness I am purchasing a vechile can I claim 100% of the gst back if I register for gst and Can i claim 100% of the value over a period of time for depreciation . The car will be used for both personal and buisness ?

7 years ago

Responses

Hi Alan

If you use a motor vehicle partly in carrying on your business and partly for personal use, you are generally entitled to claim a partial GST credit based on how much you use the motor vehicle in carrying on your business. You must keep a logbook for a 12 week period to determine your business usage.

The same applies to claiming depreciation i.e. only the business percentage of the total cost can be claimed as depreciation over a period of time or depending on the value of the car, it can be claimed as an immediate deduction using the tax office's small business concessions.

Hope this information helps.

Your Answer

If you wish to include a video or audio response, you can do this by including links to Youtube, Vimeo or SoundCloud (https://www.youtube.com/watch?v=xxxxxxxxxx OR https://vimeo.com/xxxxxxxxx)

<% error.message %>