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Thread: Tax and work vehicles

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    Member R160's Avatar
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    Tax and work vehicles

    Looking for a little help re getting a new commecial vehicle for my new job.

    Can i claim the loan payments, and all the running costs, insurance etc on a vehicle if its a ATO approved commercial vehicle used soley for work?
    and can i salary sacrifice the payments, or just the running costs etc?

    I would prefer to purchase rather than lease but I'm still not quite sure how the new govt ruling on FBT etc has impacted on car leasing etc?

    will be using it as my enviro field vehicle for new job starting in Feb. ^_^

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    I didn't think there was any change to the FBT system since the Coalition got voted in? Unsure though...

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    Generally if you're buying a car for business you can't claim the loan payments. You claim the interest and loan fees and depreciation on the asset. If you are hire purchasing it, then the payments are a hire fee and full claimable if it's a commercial class vehicle.
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    If you have a work vehicle, especially utes, there are new FBT rules for motor vehicles that come into effect at the end of the FBT year, 31/3.

    Utes are no longer automatically exempt from consideration for FBT.

    Private use is not considered minor if;
    diversions from work to home travel is >2kms,
    More than than 1,000k's per year is traveled, and
    no single return journey is greater than 200k's.

    So if you are not declaring FBT for your ute talk to your accountant. There are other issues relating to tightening of exemptions that may affect you. You may have to look carefully at your use and how you declare it from April 2019.
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