{"id":1924,"date":"2012-07-02T12:50:38","date_gmt":"2012-07-02T02:50:38","guid":{"rendered":"http:\/\/blog.privatefleet.com.au\/?p=1924"},"modified":"2020-06-20T01:45:23","modified_gmt":"2020-06-19T15:45:23","slug":"small-business-5000-tax-write-off-on-new-cars","status":"publish","type":"post","link":"https:\/\/www.privatefleet.com.au\/blog\/home\/small-business-5000-tax-write-off-on-new-cars\/","title":{"rendered":"Small Business $5,000 Tax Write-Off on New Cars"},"content":{"rendered":"

The 2011\/2012 budget announced a new tax deductions for small businesses buying new motor vehicles from 1st July 2012.<\/p>\n

In simple terms any new vehicles purchased will get an immediate $5,000 tax write-off above and beyond the usual depreciation schedule in the first year (1st July 2012 through to 30 June 2013).<\/p>\n

For example:<\/p>\n

A small business purchases a new vehicle for $40,000 in the tax year 2012-2013.<\/p>\n

Normally the business could depreciate\/write-off 15% in the first year – $6,000 – however with this new legislation, the business will be able to claim an immediate $5,000 plus<\/strong> 15% of the remaining portionof $35,000 (being the purchase price less the up front write off).\u00a0 So in this case the business owner will be able to write off $5,250+$5,000=$10,250 in the first year.<\/p>\n

This equates to an extra write off of $4,250 (normally $6,000 would be the total deduction, being 15% of $40,000) which equates to a net tax benefit of $1,275<\/strong> in 2013-2014.<\/p>\n

This incentive is estimated to cost around $350 million over two years.<\/p>\n

For any queries or information on how it works, please contact a Private Fleet consultant on 1300 303 181<\/p>\n

\"tax<\/a><\/p>\n

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  http:\/\/credit-n.ru\/offers-zaim\/mgnovennye-zaimy-na-kartu-bez-otkazov-kredito24.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 2011\/2012 budget announced a new tax deductions for small businesses buying new motor vehicles from 1st July 2012. In simple terms any new vehicles purchased will get an immediate $5,000 tax write-off above and beyond the usual depreciation schedule in the first year (1st July 2012 through to 30 June 2013). For example: A […]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1924","post","type-post","status-publish","format-standard","hentry","category-home"],"_links":{"self":[{"href":"https:\/\/www.privatefleet.com.au\/blog\/wp-json\/wp\/v2\/posts\/1924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.privatefleet.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.privatefleet.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.privatefleet.com.au\/blog\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.privatefleet.com.au\/blog\/wp-json\/wp\/v2\/comments?post=1924"}],"version-history":[{"count":5,"href":"https:\/\/www.privatefleet.com.au\/blog\/wp-json\/wp\/v2\/posts\/1924\/revisions"}],"predecessor-version":[{"id":12295,"href":"https:\/\/www.privatefleet.com.au\/blog\/wp-json\/wp\/v2\/posts\/1924\/revisions\/12295"}],"wp:attachment":[{"href":"https:\/\/www.privatefleet.com.au\/blog\/wp-json\/wp\/v2\/media?parent=1924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.privatefleet.com.au\/blog\/wp-json\/wp\/v2\/categories?post=1924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.privatefleet.com.au\/blog\/wp-json\/wp\/v2\/tags?post=1924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}