fbt and your hd

  • dm
    dm
    14 years ago

    Hi all,

    Just wondering how many people have Harleys to use for business purposes, I am a business owner and in addition to the work car also have my wifes scooter down and pay the regulatory 14c/km for all personal use as per the FBT rule.

    It certainly isn't a high priced scooter and I feel this is a reasonable trade with about 1500 personal k's knocked up in the annum

    Just wondering if anybody else uses the same method for their bike, as this seems like too good of a deal for a 15k (which is the business budget) bike that is going to be used as much as possible but still lucky to clock up a few grand per annum

     

    dm

  • dm
    dm
    14 years ago
    Was just thinking it's quiet enough to hear a fanny fart no I don't
  • rider
    rider
    14 years ago

     

    Quote < it's quiet="" enough="" to="" hear="" a="" fanny="" fart="">

    Funny thing that, soon as you mention the word Harley to an accountant or the ATO you get a similar reaction.

    Like if your business can effectively use a motorcycle for transport, promotion, pick-up/delivery it is OK, take Australia Post as just one example.

    Fast Parts, Hot Shots and Couriers are others.

    But mention Harley as a replacement for a Honda rah-rah-rah etc, things go quiet.

    It seems to be acceptable for employees, managers and CEO's to drive high class cars, trucks, 4X4's or utes to, for, and from work, and have private use clauses in their contracts, but there is an unjustifiable perception out there that Harleys aren't applicable.

    Just ask your Accountant what he or she drives to work in, and if they think that the Commissioner for Taxation would drive to work in a Kingswood ?    Hmmmmm. silence again,,,,

    And now you want to clarify FBT,,,,, good luck dm.   

  • dm
    dm
    14 years ago
    I know what you're saying rider,
    Even with the scooter I had to do my own research, and provide my interpretation to the accountants and even then they didn't seem to get it... Leading me to think not many people do it,
    I am based in an industrial area and the amount of range rover sports getting around is ludicrous. But then the reason you risk entering into business rather than being an employee is for the perks of the situation.
    I sure don't need 4 wheels to attend administrative meetings, banks, union gigs etc so have no problem justifying just wondering if any other business owner was doing it with a distinctive brand of motorcycle
  • rider
    rider
    14 years ago

     

    So, have you considered the potential of claiming carbon credits when and if they're introduced,,, I mean, if you choose to give up the luxury of traveling in an airconditioned vehicle designed to carry 5 or more passengers.

    Now that's a sacrifice on your behalf to contribute to societies burdon 

     

    Suffer Baby,,,,

  • dm
    dm
    14 years ago
    Thanks for the reply kymbo is that using c per km? Or normal (dearer) option