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Instant tax write off to buy new car

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Newbie

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Hi, I want to buy a new car under the $30,000 instant tax write off. The car is very close to that amount, slightly over. When I’m claiming for the asset can I claim the base purchase price, rego, CTP and delivery costs and GST separately?
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ATO Certified Response

Community Support

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Hi @lcorser74,

 

Thanks for getting in touch!

 

When claiming the instant asset write off the entire cost of the asset must be less than the instant asset write-off threshold, currently $30,000.

 

If you're registered for GST and can claim the full GST credit your instant asset write-off threshold is exclusive of any GST.

 

If you're not registered for GST your instant asset write-off threshold is inclusive of any GST.

 

You can find more information about simpler depreciation for small business on our website.

 

Hope this helps, JodieH.

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Taxicorn

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No.

 

They all form part of the purchase price.

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Most helpful response

ATO Certified Response

Community Support

Replies 0

Hi @lcorser74,

 

Thanks for getting in touch!

 

When claiming the instant asset write off the entire cost of the asset must be less than the instant asset write-off threshold, currently $30,000.

 

If you're registered for GST and can claim the full GST credit your instant asset write-off threshold is exclusive of any GST.

 

If you're not registered for GST your instant asset write-off threshold is inclusive of any GST.

 

You can find more information about simpler depreciation for small business on our website.

 

Hope this helps, JodieH.