HI Everyone Just after a bit of advice. I run an online business and im looking for ways to reduce the huge amount of tax I pay as I basically have no write offs. I was thinking of purchasing a brand new car so I can write this off. My profit last year was $28K and im currently registered for gst however my turnover will be less than 75K next year. I also have a full time day job so this bumps up my income and I end up paying a heap of tax. Im guessing buying a car to goto the post office and do usualt bussines trips etc I could potentially save a fair bit of tax payable. Im just wondering do I have to buy before 30th June and will I be able to claim it as a deduction for this tax year or will I have to wait till next year? Im looking at buying a kia cerato $19999 would rather a new commodore but im guessing then I can only depreciate 15% each year?
Thanks
Thanks