Changes to Fringe benefit tax (FBT) on Vehicles financed by salary sacrifice

[Richoson Avid PP Poster! Find all posts View Profile Close Richoson]

Hi Folks

There is another option which I used for 15 years, that is if you use your car for work and personal use get a CHP loan and then claim back corporate usage on your tax, this actually offers you choice of vehicle, tax benefits in reducing your taxable income. The downside is that you can't use it to fund a private car.

Regards, Richo.

[Golly Advanced Member Find all posts View Profile Close Golly]

I am lucky enough to now have a job with a car allowance tacked onto my salary package. Now the question is... which way to go. My boss has a shatel lease (if thats how its spelt) and he has a 30% balloon at the end. Does anyone have any experience with such leases. I am looking at going up to the 150 series or 200. So may have some questions of you all soon with regards to this , very new to the car allowance thingy Any advise would be appreciated and taken on board.

[ntp Addicted PP Member Find all posts View Profile Close ntp]

Golly - perhaps its best to get some tax advice from a financial advisor - as it will depend on a range of factors as to what is best for you. I have a leased vehicle drawing on a vehicle allowance as part of my salary and find it suits me just fine. If you don't get a vehicle, then what are the expectations of your employer seeing as you are being provided with an allowance?