Home – New Forums Starting your journey Company Car with Shareholders

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  • #990624
    Anonymous
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    Hi, All
    This is my first post on the forum, hope to receive some excellent advises from here

    I am starting a new company with a partner shareholder (50% shares)
    and I want to transfer my personal car under the company name so it write off some company taxes

    Shall I share the payment with my partner when company buy my car?
    how should I calculate the benefit which this move is going to get with my partner? depreciation, etc
    and what happen after several years the car is sold under the company name, do I get all the income?
    bit confused of what to do before and after.
    Let’s say the car is worth $20000, if anyone could give me an example that would be perfect

    much appreciated!
    John

    #1177887
    Anonymous
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    Hi John,

    Welcome to the forum.

    You’ll usually find that the accountants and other finance experts can only provide general advice in a forum environment like this one, so you may need to consult someone privately in order to find the exact answer to your question.

    Nevertheless, I hope that some of our brains trust will be able to point you in the right direction as a starting point.

    Good luck for the new business, and thanks for joining the community today. I hope you enjoy being part of the gang.

    Best wishes,
    Jayne

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