Business - new car purchase
Claim 100% during the year and make an adjustment in April each year for your prviate use
There are 2 ways to calculate your private use – it is best calculating both methods and using the most favourable one
Method 1 – Log Book
We make an adjustment for the private use % based on your log book
Method 2 – Statutory
We will make an adjustment equal to 20% of the car’s cost
https://www.taxslayer.com.au/blog/category/cars-/-motor-vehicles
Depreciation & GST Limits (2023-24)
ATO depreciation & GST limits