请教关于Tax return中的work related car expense

longnight929

本人的简单情况如下
公司每年给1万的car allowance, 但是fully tax deduct的，就是说和其它部分的税率一样，至于为什么是1万，当初公司说，反正工资总额是一定的，你愿意怎么分base rate和car allowance,告诉他们个数就行，我就随便估了一个。
车是hire purchase, 没有要balloon, 月供400多，5年供完
现在要claim D1,就是work ralate car expense, 上来就要填total expense，那么除了维修，rego,insurance和 汽油之外，就是月供了， 现在听到两个版本，不知道哪个对，请专家们指教

版本1: 只能claim interest和depreciation, 而不能claim princepal, interest的breakdown能从finance公司得到, 那depreciation又怎么算呢？
版本2:因为是Hire purchase, 所以直到我付清所有费用之前，我都不是车的真正owner, 月供实际只是leasing, 使我能继续使用这辆车，那么每月付的钱都算expense,都可以claim

还有，如果总的expense小于1万的car allowance, 会不会有什么麻烦，要不要跟公司调整？ 还是这个数字压根就没什么关系？

Artcore

Under ITAA 1997 Div 240, hire purchase and instalment sale transactions entered into after 27 February 1998 are treated as a sale of the property by the legal owner (the notional seller) to the entity having the right to use the asset, ie the hirer (the notional buyer), financed by a loan from the notional seller to the notional buyer.

所以版本1是正确的: 只能claim interest和depreciation, 而不能claim princepal, interest的breakdown能从finance公司得到, 那depreciation又怎么算呢？

Depreciation for car (effective life of 8 years) 应该是12.5%p.a.

如果总的expense小于1万的car allowance, 会不会有什么麻烦? 除了交税,没有别的麻烦.

longnight929

Why 8 years? where is this figure from? If i shorten the period, does it mean i can claim more each year?
Also, as someone sets up a "balloon" when purchasing a car, let's say total price $25000, a balloon has been set for $5000, pay $4000 annually X 5 yrs=$20,000, which means after 5 years you either choose to pay that $5000 balloon off to own the car, or return the car back to dealer without paying $5000. In this scenario, he claims the balloon reflects the actual car value, so the value after 5 years should be $5000, the $20000 he has paid in 5 years, $4000 per year equavalent to the princepal+interest each years, is the amount he should be claiming as depreciation.
Sounds all right to me, but is there any mis-interpretation of the law?  Thanks  Artcore!

[ 本帖最后由 longnight929 于 2008-9-26 14:39 编辑 ]

Artcore

Why 8 years? where is this figure from?

ATO: http://law.ato.gov.au/atolaw/vie ... 20084/NAT/ATO/00001

Cars (motor vehicles designed to carry a load of less than one tonne and fewer than 9 passengers):           
        Generally  8   *   1 Jul 2006  
        Hire and travellers' cars  5     1 Jan 2001  
        Taxis  4     1 Jan 2001

Artcore

"Balloon"是不是residual value after 5 years?

Car的Depreciation, 应该是从the actual car value l来算, 也就是这辆新车如果你没有finance, 直接买下来要花多少钱. 这个value可以做puchase cost 来depreciate.

但然要subject to Luxury Car Limit of $57,123. 也就是, 你花20多W买的Posche也只可以用$57,123封顶价来depreciate.

Luxury car limit $57,123 is for 2008 financial year, this amount is indexed every year.

[ 本帖最后由 Artcore 于 2008-9-26 15:01 编辑 ]

琴儿

补充一下， you can't claim expense of  car depreciation if the car has been claimed using the "cents per km" or "12% of original value"  as work related car expense

琴儿

Also I doubt whether you can claim the car depreciation as you r just an individual employee, I think you can just claim the work - related car running expense

Artcore

如果用Logbook Method 或 1/3 actual expense是可以claim depreciation on the car, as long as it is for work related purposes.

luckycoin

如果我的车是2005年10月买的，但是as work relate expense是从去年2月开始，那填e－tax的时候，effetive life是8年， 折旧rate是12.5%，对吗？那个opening adjustable value该怎么算呀？

longnight929

哥们准备用diminishing value method, 头几年能多退点，几年以后怎么样谁知道呢？