Temporary Full Expensing

This thread is archived and the information may not be up-to-date. You can't reply to this thread.

kevinwu2022

(Enthusiast)Enthusiast

10 Apr 2024

Hi,

I purchased a car under my personal name in Feb 2023. This car was then used for the company's business with 85% business usage according to the car travel logbook. My question is can the company claim 85% of the car cost in 2023 tax return under the temporary full exensing method? Or, because the car is not owned under the company name, the business only can claim car depreciation across the car used life.

0 likes

199 views