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Individual tax on private vehicle bought by company

Posted 29 January 2016 under Tax Q&A


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Taxishard says:
29 January 2016 at 12:23

If a company pays for an employee's personal vehicle, what are the tax implications for the employee as an individual? Would a loan from the company be a better option?

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TaxTim TaxTim says:
29 January 2016 at 12:26

The company would then add the amount paid or the value as a Fringe Benefit as the use of a Company Car.


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