company car

Hello toowoomba1,
By the way I am also in Toowoomba.
A coupla ideas – if the car is bought by the co the expenses will be deductable to the extent that it is used for company business.
You need to do a logbook for 3 months and keep it to apportion the split between co and private use.
If you just use the car to inspect your existing props and search for new ones and the occasional run to the PO you may have difficulty in convincing the ATO that you are actually running a business and consequently able to use as a deduction.
Having a PO box may assist sometimes.
Accountants will know more than I.

Giddo
http://www.standrewsplace.com.au

KNOWLEDGE IS POWER

If you use a vehicle of over 1 tonne, you can normally deduct 100%.

I would strongly advise you to make a list of all the things you want to do and find a good accountant with knowledge in real estate investing.

Run your ideas past him and get his opinion on the best structure.

Important points to explain to him:
– are you having a buy (,reno) and hold or a buy, improve and sell strategy (the latter means you may be classed as a trader rather than an investor
– is it more important to you to keep costs to a minimum or is asset protection a major consideration.
– is the possibility to stream your income important

Good luck