2009 Federal Budget = Time for a new car
I know a few forum members run their own small businesses (like me) and have their own ABN's so just thought it would be opportune to remind everyone that the incentive announced in the budget is worth exploring.
The additional tax break above that announced in February allows businesses with a turnover of less than $2m to claim a bonus tax deduction of 50% of the cost of eligible assets costiing more than $1000. Eligible assets include tangible depreciating assets, such as computers, vehicles and if you are lucky enough to be able to claim it, a boat (highly unlikely uness you derive your income from a maritime activity). (Shame Reeltime doesn't make any money or that would be something I would be exploring myself)
In my case it seems the Subaru Liberty 3.0RB's days are numbered and a new car might just be on the radar thanks to good old Ruddy and Swanny.
It would pay to talk to your accountants and check your own individual circumstances. With a $60k vehicle purchase you could potentially have a $30k tax deduction on top of GST rebates and fleet pricing etc. Depending on what tax rate you are already on that could be a significant saving.
I can see a few more new 4WD's gracing the forums by the end of the year. 
I must disclose that I am also a finance broker FBL3305 for those don't already know from the Crediflex ads in the Reeltime mag. Happy to discuss offline if you want any additional info but best advice though is talk to your accountant first.
Just wanted to give the guys that aren't getting the Ruddy handout something to look forward to.
Cheers
Andy Mac
Cheers
Andy Mac (Fishwrecked Reeltime Editor & Forum Moderator)
Youngest member of the Fishwrecked Old Farts Club
Andy Mac
Posts: 4778
Date Joined: 03/02/06
Might be selling the car private
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Andy Mac (Fishwrecked Reeltime Editor & Forum Moderator)
Youngest member of the Fishwrecked Old Farts Club
uncle
Posts: 9474
Date Joined: 10/02/07
i'm on to it
might have to get a new PRADO for my retirement!
Fast fish rule!
all aggressive fish love bigjohnsjigs
chezza
Posts: 78
Date Joined: 23/10/06
Yep, looking at the moment,
Yep, looking at the moment, great for small business
Andy Mac
Posts: 4778
Date Joined: 03/02/06
With rates low at the moment
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Andy Mac (Fishwrecked Reeltime Editor & Forum Moderator)
Youngest member of the Fishwrecked Old Farts Club
allrounder
Posts: 1853
Date Joined: 10/11/08
m3 bmw
should do the trick or maybe a bentley with 50% tax rebate
So tell me have you got your info from years on the water or hours on the internet?
Andy Mac
Posts: 4778
Date Joined: 03/02/06
Hmmmm
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Andy Mac (Fishwrecked Reeltime Editor & Forum Moderator)
Youngest member of the Fishwrecked Old Farts Club
allrounder
Posts: 1853
Date Joined: 10/11/08
have a look
at the peugeot 407 in diesel.economical as ,serviced once a year, leather interior and good boot space.The father in laws company is buying some for their fleet he has had his for a couple of years and thinks its great for a run around.
So tell me have you got your info from years on the water or hours on the internet?
HuggyB
Posts: 2515
Date Joined: 03/08/08
Already bought one
2009 Hilux 4x4 diesel tray back ute.
Our turnover means only 30% rebate though, but thats still $12k or so. Old man got a new Commodore ute as well. You'd be crazy not to IMO. They are basically handing you the 1st years depreciation (and then some).
The Terrorist - coming to a fishing spot near you.........
Blake.T.
Posts: 680
Date Joined: 12/12/07
is this only for brand new
is this only for brand new cars or does it include 2nd hand as well??
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HuggyB
Posts: 2515
Date Joined: 03/08/08
brand new (or demo I think)
but it doesn't help much unless you have a registered company that you own Blake.
The Terrorist - coming to a fishing spot near you.........
Andy Mac
Posts: 4778
Date Joined: 03/02/06
Brand new
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Andy Mac (Fishwrecked Reeltime Editor & Forum Moderator)
Youngest member of the Fishwrecked Old Farts Club
Kelvin8r
Posts: 475
Date Joined: 12/08/08
Sub-Contractors?
What about people like me who are subbies??
Andy Mac
Posts: 4778
Date Joined: 03/02/06
as long as you have an ABN
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Andy Mac (Fishwrecked Reeltime Editor & Forum Moderator)
Youngest member of the Fishwrecked Old Farts Club
7739ian
Posts: 948
Date Joined: 25/06/08
Might be interested
in purchasing a nice low mileage (400,000k) HQ Holden given the state of business at the moment.