Bikes as company vehicles

[HenryDorsetCase]

There has to be some advantages to running your own business!

amen to that. after today I cant think of any.... but yeah.

[shafty]

Don't ya love it when the rules work for Bikers?!! Ceebie13, I have the perfect rego plate for you: CO.CAR (Company Car) - I had it on my 900 Triumph, as my (then) comapny was indirectly paying for my riding! Seriously for sale, PM me if it's of any interest

[Insanity_rules]

If you keep a Log book for 3 months every 2 years to justify the percentage you claim it'll give you an idea if its worth it. If its over 70% business its worth claiming full expenses (ie running, gst ,gear). If not then claim on a mileage calculation of work use (X cents per work kilometre).

I've done the exercise. I claim all expenses on my car and mileage on the bike(when I get to use it). Ah good ol Mr Tax man! God love em.

[Big Dave]

amen to that. after today I cant think of any.... but yeah.

I start work at the crack of lunchtime.

[crazybigal]

hahaha never heard of anyone doing that!
but you could invent a reason why it is used as a business vehicle.
you can claim the gst and depreciation in your tax, but remember you will have to pay the gst back and tax on what you sell it for later!
id be thinking hard if its worth doing.
i wonder if anyone has leased a bike and claimed the cost of the lease??? would be a better idea

My new CB13 was bought through my business. ie: The invoice was made out to my business name. Basically the business is just me as a freelance sole trader. Has anyone else done this? If so what can I expect to claim and what not as regards expenses and operating costs etc. For example can I claim all the GST back or only part of it? Naturally, the bike is going to be used for private use aswell (I mean.. lets not pretend otherwise!!) so will I have to keep a log of all the mileage?? Yawn! It could get a bit complicated!
What thoughts people?

[degrom]

Can't you buy your bike on a lease agreement? Then it's not an asset and you can free up the cash that you wanted to spend on the bike and still get GST back for your expense on the lease agreement.

What will cost less to bay back?
A depreciated bike or a bike after a lease agreement?

Was just wondering,cheers.

[Ixion]

You can buy it on a lease just like any other motor vehicle. Whether that's better or not depends on your capital versus cash flow position.