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Vehicle depreciation?

Posted 21 February 2014 under Tax Questions



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I recently started my own business and I use my vehicle to collect stock/supplies and also to deliver to my clients. Can I claim the cost of my yearly vehicle renewal from tax?

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TaxTimTaxTim says:
24 February 2014 at 12:25

Yes you can depreciate this vehicle over 5 years for income tax purposes, however you would need to apportion this amount for the business use vs private use as only business use can be deducted for tax purposes.


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