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Why Buying a Car Could Cost You Tax

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  • เผยแพร่เมื่อ 31 ก.ค. 2024
  • A lot of people think buying a car for their business will help from a tax point of view. Today I am going to explain whether your business should buy a car for tax purposes.
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    ⌚️Timestamps
    0:00 Should You Buy a Car For Your Business?
    1:14 Tax Implications of a Buying a Car for Your Business
    3:31 GST Implications
    4:36 When Buying a Vehicle Could Cost You Tax
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    Ethan 'Rooshock' (Rucioch) is an Australian business owner in his late 20's. He is the owner and director of Rooshock Accounting, an accounting firm. He is also the creator of an NFT project, Rooshocks. In his spare time, he enjoys travelling, spending time with his family and watching countless hours of sport. On this channel you will find a range of different content, including personal finance, business advice, tax tips, crypto tax tips, NFT discussions and even Ethan analysing some popular TV show businesses from an accountant’s perspective.
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    Disclaimer
    Every effort has been made to ensure that the information in this video is accurate. The information in this video and on this TH-cam channel is for entertainment and general information purposes only. It should not be taken as constituting professional advice. You should not rely on it as financial, legal or tax advice. There are always risks in any financial decision and all decisions should be made on an individual basis. You should conduct your own research and seek independent professional advice where needed. Some of the links in this video or video description may be affiliate links. Ethan Rucioch, Rooshock Enterprises Pty Ltd, Rooshocks NFT Pty Ltd or any other related party may receive a commission through these.
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    #cartax #businesscar #businessvehicle

ความคิดเห็น • 12

  • @EthanRooshock
    @EthanRooshock  หลายเดือนก่อน +2

    Just want to stress again, make sure you speak to your accountant BEFORE you go out and purchase a new vehicle. It is so important to understand the tax implications this financial year!

  • @write2esther
    @write2esther หลายเดือนก่อน +1

    Great explanation!

  • @AM-qk7ox
    @AM-qk7ox 2 หลายเดือนก่อน +2

    Nice vid ethan. I thought the instant asset write off hasn't passed yet though??

    • @EthanRooshock
      @EthanRooshock  หลายเดือนก่อน

      It is still going through parliament. Proposed to change it to $30K.

    • @tysont2380
      @tysont2380 หลายเดือนก่อน

      So current legislated threshold is only $1000?​@@EthanRooshock

    • @samatkambariya6652
      @samatkambariya6652 หลายเดือนก่อน

      But ATO showing $20,000. In practical jobs...shall we consider 20 or 30?

    • @EthanRooshock
      @EthanRooshock  หลายเดือนก่อน

      @@samatkambariya6652 What are practical jobs?

    • @samatkambariya6652
      @samatkambariya6652 หลายเดือนก่อน

      @@EthanRooshock I am practicing tax...so returns

  • @KArtoaT
    @KArtoaT 2 หลายเดือนก่อน +1

    🙏🏽🙏🏽🙏🏽🙏🏽🙏🏽⭐️⭐️⭐️⭐️⭐️