Can my company pay for my vehicle?

[Inn3rs3lf]

Hey guys,

So I have started a company, and am wondering if I am able to use the PTY to pay for my vehicle.

My vehicle will be used 100% for the company, as it was bought for this reason. I will be working from home, but will be traveling to clients houses, and to sites in order to install our product.

Will this be able to be included in the companies expenses, or solely on my own?

 

[Binary_Bark]

You can, in tax rebate. Make sure to keep a travel log, logging business trips and personal trips

 

[Arthur]

As always, your company needs a reason to pay, supported by the necessary paper (eg an expense claim by you, invoice, etc). Having the company pay your debts without good cause is really just remuneration to you and taxable in your hands. If you are using your personal property (eg car) for company purposes in generation of company income then of course you can recover those expenses from the company.

 

[ele33]

So the company will receive a deduction and you'll receive a fringe benefit / allowance inclusion in your taxable income?