If I contribute my car to my sole trader business today, does that count as the date of aquisition?

 Author: CameronB(Newbie)Newbie

24 Mar 2023

@CaroATO Yes, I have been using my vehicle for uber deliveries and gardening work.

Another question - am I able to claim the portion of the vehicle expenses as per logbook percentage, for the fraction of the year that i have used it for business purposes, then buy a different car and start using it within the financial year, and continue my logbook with that car and use temporary full expensing, at the logbook percentage, for that new car?

Also - when looking at the revenue minimum of $20000 to be able write off a business loss against employment income, I understand that I can use a pro-rata revenue figure if it is deemed to be equivalent of $20000 revenue for a 12 month period. My question is:

I have had an active ABN for the entire financial year, but only been doing Lawn and Garden work since the start of March. Must I earn $20000 revenue for the financial year because the ABN has been active all year, or can I consider the time-frame that the lawn and garden business has been running (ie, March 1 - June 30 = 4 months). Therefore I can make revenue from lawn and garden work of $6667 between March 1 and June 30, which would indicate a full year earning of $20000, therefor I could write off a loss against my personal income?

Thank you!

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