Hi everyone,
i am buying a Tesla Model Y L through my own business. Now it’s been announced that any car worth $75000 or more will lose the FBT exemption from March 2027 resulting in an FBT bill of $10000 a year for the business. The cost is $74900 pre gst and fees and $81k driveaway. This car won’t be on a novated lease as it’s my own company and i am paying cash.
I am wondering if i take delivery of the car now, am i eligible for the full FBT exemption over the next few years? Meaning grandfathered? I won't be needing to pay FBT even if the new ruling comes into play next year onwards?
I spoke to my accountant and he said yes, it will be full FBT exempted for the car over the next few years, it's only for cars purchased after March 2027 onwards. But i saw online people saying, it's only this year that will be exempted and next year onwards, i will only get 25% exemption.
Thanks and will appreciate some clarification.
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