Reply With QuoteAll i can say that sucks! In this world of ours, you win and lose. In this instant, your not exactly winning...
I have a question and I was wondering if anyone knows a way around this.
I rang up my leasing company today to get a pay out figure on my Astra to find the following.
1. Purchase price $30k
2. Time leased 1 year
3. Pay out figure without 10% GST = $26, 459
4. Pay out figure with 10% GST = $29104
4a. GST total = $2645
5. Therefore total paid off over 1 year = $896
Does anyone know of a way where I can upgrade my car without paying this $2645 GST???
Note: This message was edited to leave only the facts and not my opinions on our current tax legislation.
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All i can say that sucks! In this world of ours, you win and lose. In this instant, your not exactly winning...
Pay cash.
I've got nothing against Howard and the current tax scheme. I'm all for it actually.
Rule of thumb is never lease/loan anything that is a depreciating asset, like cars. Only do it if you are making money on it which is very rare when it comes to cars. If you do lease a car make sure you have the same amount in cash working elsewhere which provides a far greater return to justify leasing a depreciating asset.
What you are in effect are doing is taking out a loan on something which you will lose money. Then add interest and taxes on top to what you are already behind by. Doesn't make sense when you think of it like that does it?
Indirect taxes pre Jun 2000 and GST now is basically the same except your tax invoice notes down the taxes you actually pay. I think cars incurred a 22% tax pre Jun 2000... don't quote me on it though.
ultim8, i agree with you there. Thats spot on!
And I aint an accountant, and don't work in business at all!
But you know what they say about wogs and cash...
I pey kesh, u give me discount?
Something like that
Kinda hard to explain a $20,000 write off for a car that disappeared into nothing.Originally Posted by BLK^BaRiNa
... as much as I wish it could be possible.
Oh, and also any payment >$10k in "cash", the dealer has a duty to report it to the ATO.
meh... ATO... tell em go to stuff it
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