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rowan · 01-29-2006, 09:58 AM

Also, go and register an ABN and possibly a business name. That way you may be able to claim some km travelled as a business expense (since you're providing the mobile advertising as a service). The best way unless you do a shitload of km is probably the cents per km method, which allows you to claim 63c per km for your car type, up to 5,000km. That's a $3,150 tax deduction. If you do 20,000km in a year and can reasonably say that 25% was business related then you've knocked at least $1,500 off your tax bill.

Best to talk to an accountant about how to minimise your expenses and taxes. You'll save a lot more than if you just did it as a private individual.

Oh yeah, and don't forget about GST.................

01-29-2006, 09:58 AM
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393	Also, go and register an ABN and possibly a business name. That way you may be able to claim some km travelled as a business expense (since you're providing the mobile advertising as a service). The best way unless you do a shitload of km is probably the cents per km method, which allows you to claim 63c per km for your car type, up to 5,000km. That's a $3,150 tax deduction. If you do 20,000km in a year and can reasonably say that 25% was business related then you've knocked at least $1,500 off your tax bill. Best to talk to an accountant about how to minimise your expenses and taxes. You'll save a lot more than if you just did it as a private individual. Oh yeah, and don't forget about GST.................