$5,000 Motor Vehicle Deduction to end for small business.

November 27, 2013
Steve Hodgkinson

At present if you are a small business operator with a turnover of less than $2 million and you purchase a motor vehicle costing $6,500 or more you can obtain a tax deduction of $5,000.

However you better hurry because as of 1 January 2014 it has been proposed that this deduction will disappear!

Small business's have until 31 December 2013 to buy a vehicle for work related purposes to qualify for the $5,000 tax deduction.

As your local Mortgage Choice broker, I have access to a range of lenders who can offer you the financing package to meet your business needs.

So if you're looking for a new vehicle and needs some finance, contact me today so that you don't miss out on the $5,000 tax deduction!

Posted in: Car loans & leasing

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