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I got an Australian taxation question. I know that will only be a small earner but I will need further advice later and also someone doing my end of year accounting :)
Could you answer this question for me?
I am a sole trader. I have a car that I ran partly as business cost (1% of purchase price /month). Now I bought a second car which I use as company car. The first car is for private use only. I am an IT project manager.
The new car is 18k, I bought it new and paid it full from my company account. Is that OK? Can I deduct all cost plus purchase 100%? Also the GST 100% now? If so, how much of the purchase price can I deduct each year? If I can't deduct 100%, how much can I?
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