Hi. Appreciate some help here.
I have a full time job and drive Ridesharing for a side income. My full time employer allows for the novated leasing of a new car (i.e. thru a NL agent) - in which I have signed up for.
I am at the end of the 2 year novated leasing tenure for the car. I intend to pay off the balloon payment (+ the associated GST) to take full ownership of the car in this instance.
After assuming ownership of the car, I plan to use it for Ridesharing (assume 100% usage).
Given the car after the transfer is used for income, can I:
(a) Claim the GST paid for the NL balloon payment when filing my BAS (rideshare drivers need to be GST registered);
(b) Claim capex writeoff (i.e tax deduction) on the remaining balloon paid for the transfer of the car to my ownership?
Thanks.
322 views
3 replies