Home – New Forums Starting your journey GST for new car purchase Reply To: GST for new car purchase

  • Total posts: 239

Couple of potential solutions here as its more than a GST on purchase issue but all on going running expenses

1. Start a log book immediately. You need proof of the 80-90%
2. You go on the payroll and are paid the cost of running the car as a travel allowance. Then expense deductible for business and net income to you is nil
3. It sounds like your a business partner and thus structure should be set up that way
4. The associate rule is usually used by the ATO to stop people hiding income etc..

As others have said Id be seeking professional advice… Depending how car paid for etc will all affect the answer