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Capital Gain Tax for Private Vehicles Used for Business?

Posted 18 November 2014 under Tax Q&A


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I have a private vehicle which I use for business purposes.
I receive a travel allowance and also claim deductions on my return, based on the business mileage I do on the vehicle.

If I sell this vehicle, would I calculate capital gain/loss on the sale of the asset to input in my tax return?

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TaxTim TaxTim says:
18 November 2014 at 17:12

No, personal assets are no subject to CGT.


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