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Hi
New motor cars with CO? emissions up to 75 grams per kilometre qualify for a 100% first-year allowance, however does the 100% still apply even if the car has some private use?
Thanks
My idea of private use by proprietors on cars is that the allowance rate is not affected, meaning after calculating for eg the FYA on a car with an emission below 75g/km costing $30,000 which has a 20% private use, then you only transfer 80% of the $30,000 to the allowance column.
I stand to be corrected.I am curious about this too. Are you sure that’s the treatment for private when FYA applies?
I believe yunush is applying the correct treatment on this matter but I too would prefer confirmation on this matter.
Further to the above,I believe the asset should be allocated its own pool as result of private use adjustments made in future based on future events such as sale of vehicle or business resulting in balancing charge.
I think a question has to be answered here. Who uses the car for private purposes?If the proprietor, a separate column is to be provided but in the case of an employee, normal FYA procedure using the method stated by yunush to get the capital allowance
I also stand to be corrected
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