Generally, if you purchase a car and the price is more than the car limit, the maximum amount of GST credit you can claim is one-eleventh of that limit. For 2021–22, the maximum GST credit you can claim is $5,521 (that is, 1/11 × $60,733). This limit also applies to cars which are fuel efficient.
In certain circumstances you can claim a GST credit for the full amount of GST included in the price of a car even if the car costs more than the car limit. The car must be used in carrying on your business and at least one of the following conditions must be met:
Stage 3 Personal Tax CutsRead full article
Significant considerations for landholdersRead full article
Our discovery sessions are a chance to assess market opportunities for your business – advising you on the best pathways to achieving your long-term financial goals.Book Your Discovery Session