Hi
I bought my car 4 years ago and recently I set up a company and I use that car for business also for personal use. My question is: can I paid the car insurance by my company (full amount) and claim the petrol for company use( business use portion). Also is it ok to use personal car for business?
Hi @chim_kit,
Yes, you can use your personal car for the business. But when it comes to the costs, you'd need to apportion them between business and personal use.
Do you have an agreement with your company to pay your rego and fuel? This is where it gets tricky because your company is separate to you and it could be seen as a fringe benefit if it's paying your personal expenses.
Hi @chim_kit,
Yes, you can use your personal car for the business. But when it comes to the costs, you'd need to apportion them between business and personal use.
Do you have an agreement with your company to pay your rego and fuel? This is where it gets tricky because your company is separate to you and it could be seen as a fringe benefit if it's paying your personal expenses.
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