Car depreciation on work car if loan paid out

Question

BlakeATO · Accepted Answer

Whether or not the car was paid in full or via a loan or lease-agreement does not change the speed at which you depreciate the vehicle. Even when you pay out the remainder of the vehicle, you'd continue depreciating the vehicle at the same rate. We can't tell you how to maximise your deductions - giving financial advice in Australia is limited to people licenced to do so. You'll need to speak to a registered tax agent or a financial adviser for that.

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