Car Lease -is there any advantages ?

GTP 320 · 09-02-2005, 05:08 PM

Just wondering how many might lease their cars for business these days and are there any real tax advantages ? or can one cheat a bit and say it's been used for the business,and gain the tax advantage ? .
Any input would be welcomed not that i'm thinking about it,but thought that it may be a good topic.
Cheers John

TheSneakiness · 09-02-2005, 05:10 PM

bindi started a topic here

Hope that helps somewhat.

tickford2001 · 09-02-2005, 05:25 PM

yeh i have been wondering about this myself

i saw an R8 clubby the other day with the rego: TAXTOY and at the bottom of the rear skirt it had a business sticker! was the only signage that i could see on it

as i now have my own business this got me wondering!

**Falcon Coupe** · 09-02-2005, 06:10 PM

I leased my Rodeo, after the first full tax year of ownership i got a tax refund of $9500.00, so the second year the tax man is paying all the payments.
But as a tradesman i write off 100% of the car.

CAMS290 · 09-02-2005, 06:17 PM

I lease my Pursuit through my buisness, i claim the GST credit and claim 80% of the running costs because i keep my tools in the back for when i work on the truck.

If it was a 1 tonner i could claim 100% of the costs, but i would rather sacrifice the 20% and have something much nicer to drive

MrSparkle · 09-02-2005, 06:43 PM

I have a novated lease on my Datsun, (S15), but only for personal km. I'm still saving over $9,000 per year in tax benefits and other things like getting fleet rate on insurance (which is no small thing when you are <30 and live in Sydney!)

BTW I'm only claiming against 15,000km p.a. as well, so it's a staggeringly good deal considering...