I have an online eCommerce business where I have started using my personal car for picking up goods from suppliers for sale.
For tax benefit purpose, I need tax advice on whether I should keep using my personal car and claim the business expense or is it better transferring the car under the business’ name.
My wife and I live in an apartment (renting) and we operate the business from our home.
Our eCommerce business is based in Sydney and both of us are the directors of the company and no other employees. We are not getting paid in salary but the profits do get distributed to us at the end of FY.
I have started using my personal car for picking up goods from suppliers for sale and also dropping off the parcels for sending. I still drive the car for private use.
For tax benefit purpose, should I keep using my personal car and claim the business expense or is it better transferring the car to my business (given it’ll still be business and private use)
I’m seeking professional advice here and I expect to pay some fees.
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