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#31
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Since you are doing it pre-tax, did they include all the FBT costs?
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[COLOR="Gray"]550Nm off a 2L... Just wish it was in the dak dak...[/COLOR] |
#32
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FBT is going to be changing to a flat rate of 20% in the next few years.
Already has for lower km's driven for new agreements
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RS RA The more people I meet the more I like my Dog! 12.463 1/4 mile, not bad for an old school Liberty [DECEASED] MY08 Liberty Tuned by STi |
#33
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I tried to play this out across many different scenarios but the best I could come up with was 'wut?'
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#34
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Quote:
You can't just use pre-tax money for a vehicle and not pay FBT. I'm curious if this is included in the lease re-payments as mentioned or if there will be a later lump sum (or payback out of tax paid money to get a FBT benefit of $0).
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[COLOR="Gray"]550Nm off a 2L... Just wish it was in the dak dak...[/COLOR] |
#35
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this is whats on the 20k quotation - (not sure if this helps clarify & I'm taking 24k instead)
employer fbt type - full fbt payable fbt method- statutory statutory percentage rate with *ECM- 20% fbt base value- $20k **gross taxable value- $4k |
#36
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Yup, that's what it should be, is it included in your lease payments or as an additional cost?
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[COLOR="Gray"]550Nm off a 2L... Just wish it was in the dak dak...[/COLOR] |
#37
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included
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#38
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Quote:
2) Correct 'should more accurately state give rise to an FBT event, not pay FBT'; and 3) I have never seen an employee contribution factored into an agreement with an employee that wasn't either a director/immediate family member. I suppose this makes sense due to structure of the loan, but then again based on the structure of the loan it could quite possibly give rise to a second FBT event.
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#39
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Quote:
3 - Most of the online companies I have seen use a contribution method as one of the examples on how to best maximise the lease. I have never had a lease, so I'm interested to see how they work. Every time I have investigated, they cost a lot more than buying with personal cash or having the business buy them. If as the OP has stated, this works out to be 'interest free' I would be very suprised. Would be good to revisit this in a year and see what the actual costs have ended up being for future reference...
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[COLOR="Gray"]550Nm off a 2L... Just wish it was in the dak dak...[/COLOR] |
#40
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Quote:
Look at the logic of it. Would you 'as an employee', pay for the privilege of a company car 'which you need for your job?', where you prime objective isn't to reduce the overall liability of the entity so you can either re-invest in capital/increase cashflow, or reap the benefits of the cash in the form of dividends, etc? Quote:
Quote:
Would be interesting to know who the lender is 'external/internal funding', as this would answer a lot of questions.
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[SIGPIC][/SIGPIC] Last edited by mARC; 12-02-2012 at 02:25 PM. |
Tags |
dumbass, lease or taxation, novated, question |
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