This can be a bit tricky, as you may have a trade-in involved, most of the expenditure is of a “capital” nature however some items can be expensed immediately, you can only claim GST on the new vehicle up to the Luxury Car Depreciation Limit for that year, and you probably have a loan involved that needs to be accounted for properly too.
The important thing is to collect the right documents:
Finance Contract (the page showing number and amount of payments, total interest paid, etc).
Call us and we will enter these correctly for you. We have a client who was unsure how to enter these documents, so they left them for end-of-year. They missed out on claiming over $8K of GST back until seven months after their purchase of two vehicles.
Payroll EOY - Review all employee current addresses and tax file numbers in preparation for Payroll EOY.
Superannuation - Pay your June Quarter Superan...
End Of Financial Year
June 17, 2015
Balanced Lifestyle? Yes Please!
May 1, 2013
The Teamrace Team hope you had a wonderful break over Christmas and New Year and we look forward to working with you in 2016.