Are second hand vehicles eligible for the instant tax write off if I borrow money from my parents?

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(Newbie)Newbie

2 Oct 2024

I'm a young sole trader tradesman and I need to get a decent ute with high towing capacity for work. My mum has offered to lend me the money to purchase a second hand vehicle privately and I make payments back to her weekly until I pay it off. Would I still be eligible for the instant asset tax write off for this? The ute I'm looking at getting is $25,000

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