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  1. J

    Claiming up to $20 000 immediate deduction

    No it's not like it scales. The minute it goes to $20,001 ...then the deal is off.
  2. J

    Claiming up to $20 000 immediate deduction

    What happens if you claim 80% based on historical use. Then over the next 5 years the average drops to 60%. Will there be a problem a problem with the ATO?
  3. J

    Claiming up to $20 000 immediate deduction

    Awesome. In that case, time for a new car!!! This makes things a LOT easier too, since a log won't be needed any more (or is it?). EDIT: I suppose it'll still be needed if the ATO come knocking. Alright the burden is still there.
  4. J

    Claiming up to $20 000 immediate deduction

    Yes but if you're claiming it all this year, how can you predict how much of it you will use for business in the following 5-10 years?
  5. J

    Claiming up to $20 000 immediate deduction

    But the difference is you used to have to work it out each year. But if you can now claim it all at once, you'd have to forecast it, instead of having an actual log book to refer to. How would that work? Would it be ok to use a forecast based on historical data?
  6. J

    Claiming up to $20 000 immediate deduction

    How would it work if the car is partly for personal use? So it costs 10k. If I estimated it will be used 20% of the time for non-business, does that mean I just claim 8k in this financial year?
  7. J

    Claiming up to $20 000 immediate deduction

    Can I use this to buy a car for my business (obviously under 20k)? What's exempt?
  8. J

    Claiming up to $20 000 immediate deduction

    It could have other benefits too - it could take you down a tax bracket.
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