Tax benefits for business operators.
Sept 29, 2016 18:13:35 GMT 11
Phoebe, EVangelist, and 1 more like this
Post by pharmadave on Sept 29, 2016 18:13:35 GMT 11
Based on the current method of claiming work-related travel expenses.
Even a full electric vehicle can claim $0.66/Km of work related travel up to 5000Kms per year.
That means, for a business operator like myself who will use it for our local delivery run a few times per week; we will be able to claim a $3,300.00 deduction per year even though the Leaf will cost a fraction of what it would cost to operate our current delivery van in terms of fuel and servicing costs.
In some ways, this could be an unintentional nod to EV owners of government support?
In Victoria, the yearly registration fee is also $100 less compared with ICE vehicles.
There is also currently accelerated depreciation in place for assets less than $20,000, so it'll only take a couple of years to deduct the full cost of a second hand Leaf through the business accounts.
It does appear that there are no blatant government financial support for EVs, however using a mixture of current regulations, a Leaf really makes sense (especially for business operators)!
I must qualify the above statements by saying I am not an accountant and this is purely my interpretation. Please seek your independent advice from a taxation professional before you make any decision.
Even a full electric vehicle can claim $0.66/Km of work related travel up to 5000Kms per year.
That means, for a business operator like myself who will use it for our local delivery run a few times per week; we will be able to claim a $3,300.00 deduction per year even though the Leaf will cost a fraction of what it would cost to operate our current delivery van in terms of fuel and servicing costs.
In some ways, this could be an unintentional nod to EV owners of government support?
In Victoria, the yearly registration fee is also $100 less compared with ICE vehicles.
There is also currently accelerated depreciation in place for assets less than $20,000, so it'll only take a couple of years to deduct the full cost of a second hand Leaf through the business accounts.
It does appear that there are no blatant government financial support for EVs, however using a mixture of current regulations, a Leaf really makes sense (especially for business operators)!
I must qualify the above statements by saying I am not an accountant and this is purely my interpretation. Please seek your independent advice from a taxation professional before you make any decision.
