Take Company Car or Allowance

[twosocks]

Hi All

Going back to Adelaide (dual citizen) from the UK and need a work vehicle. Whats the best option take the car or the $ thats offered in the package? I will be doing low mileage for work and probably higher personal. I think I have read that a ute will not attract fringe benefit tax? So 4wd hilux will fit the bill, have dogs, bikes etc. I am probably shipping my M3 out which will be used by the missus.

Please no jokes about murders, churches etc

Thanks in advance - ATO website is useless

[james280779]

depends on the allowance, If it was me personally I would take that.
I would get a Hi-Lux on low interest and put a little in myself. That way its not dead money as the company will be paying the majority for you and you will end up owning it in the end rather than nothing.

You will also be able to claim back tax if you use it for work - not to and from but between jobs.

I have an old jeep and I claimed nearly 4k in fuel back last year- expediture was nowhere near that.

[Google [bot]]

I'd have thought a lease agreement paid before tax, as long as the km's accumulated are sufficient. AIUI there's likely money to be made when you pay out the balloon. Don't know of any benefits with utes, perhaps something like this?:

Edited by Google [bot] on Tuesday 10th July 05:37

[Colonial]

I believe utes and other commercial vehicles don't attract fringe benefit tax.

I do a novated lease. Works out well for me.

[twosocks]

Thank you guys! I will see what I can squeeze out of them for an allowance and hopefully any top up from myself can be included in my salary sacrifice.