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The Pub For General Automotive Related Talk |
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#1 | ||
AKA "the other bloke"
Join Date: Jan 2008
Posts: 1,966
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reported today regarding the federal budget...
The Albanese government has slammed the brakes on the amount small business can claim for a piece of new equipment – down from $150,000 to $20,000 – making it impossible for businesses to instantly claim the cost of new commercial vehicles as a tax deduction. Australian Automotive Dealer Association chief executive James Voortman said he was disappointed the asset write-off had been scaled back, saying it helped businesses obtain more modern vehicles. “The instant asset write-off has resulted in many small businesses being able to purchase new vehicles for business use,” he said. “This has played a major part in ensuring Australia’s vehicle fleet is characterised by newer vehicles, safer vehicles and cleaner vehicles.” The scheme has helped four-wheel-drive utes such as the Ford Ranger and Toyota HiLux, Australia’s best-selling cars, maintain their place in the fast lane of vehicle sales charts. this starts from july 1 & the change has been hinted at for a long time, will this lead to a change in the buying tastes of aussie motorists going forward? I know of a few people who manipulated this rule for years claiming their hilux, ranger, triton etc as a work vehicle when in reality it was their grocery getter.
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Her's: 2000 AU II Fairmont Ghia 75th anniversary VCT meteorite & 2014 yaris - white His Toy: 2012 fg II GT-E, emperor red His: VS Ute 5 Litre 5 speed (povo pack) His: 2012 FG II GS, Vanish His: 2003 BA GT-P, Lightening Strike Jnr: 2002 AU III Falcon XR6 ST, 5 speed Blueprint & 1978 XC Fairmont Neptune Blue Previous: 1976 HX 50th Anniversary Kingswood 2014 FGX G6E Turbo 1980 XD Falcon GL 2003 BA Falcon XR6 1991 EB Falcon S 1989 EA Fairmont 1982 XE Fairmont 1968 XT Falcon |
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#2 | ||
Peter Car
Join Date: Dec 2004
Location: geelong
Posts: 23,145
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Hard to say. I don't reckon it's as big as a take up as what some people think it is.
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#3 | ||
Render unto Caesar
Join Date: Feb 2008
Location: ::1
Posts: 4,221
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"business use."
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"Aliens might be surprised to learn that in a cosmos with limitless starlight, humans kill for energy sources buried in sand." - Neil deGrasse Tyson |
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#4 | ||
Thailand Specials
Join Date: Aug 2009
Location: Centrefold Lounge
Posts: 49,028
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We barely subsidized our own manufacturing industry and yet here we were giving tax incentives to everyone to buy Thailand Specials and a free trade agreement with them for the past 20 years
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#6 | ||
FF.Com.Au Hardcore
Join Date: Dec 2004
Location: Canberra Region
Posts: 8,923
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Our auto industry had the least amount of subsidies of any nation's auto industry.
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2016 FGX XR8 Sprint, 6speed manual, Kinetic Blue #170 2004 BA wagon RTV project. 1998 EL XR8, Auto, Hot Chilli Red 1993 ED XR6, 5speed, Polynesian Green. 1 of 329. Retired 1968 XT Falcon 500 wagon, 3 on the tree, 3.6L. Patina project. |
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#7 | |||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 22,900
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Quote:
You would be surprised. There will be a lot of assets cancelled if they don't turn up to prior to June 30.... No instant write off plus equipment finance rates have tripled in the last few years. We had the perfect storm for indulgence, cheap rates and full tax deduction, as per why people went mad.
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2022 RAM Laramie 5.7 2023.50 Ranger Wildtrak 3.0 V6 Premium Pack 2024 Everest Sport 3.0 V6 Touring Pack 2024.50 Mustang Darkhorse 6M Blue Ember + Appearance pack ETA Jan 25. |
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#9 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: Catland
Posts: 3,618
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"I felt a great disturbance in the Force...as if millions of dual cab utes suddenly cried out in terror, and were suddenly silenced."
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I6 + AWD |
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#10 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: Catland
Posts: 3,618
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“The instant asset write-off has resulted in many small businesses being able to purchase new vehicles for business use,” he said.
“This has played a major part in ensuring Australia’s vehicle fleet is characterised by newer vehicles, safer vehicles and cleaner vehicles.” Newer, yeah, OK Safer: ladder frame chassis is back, live axles, maybe even some drum brakes, higher up to roll easier Cleaner: mmmm diesel particulates I call BS on this one.
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I6 + AWD |
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#11 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: Catland
Posts: 3,618
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Last decade has been the perfect storm for craziness almost everywhere, driven mostly by QE and ultra low rates worldwide, it's been nuts.
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I6 + AWD |
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#12 | |||
FF.Com.Au Hardcore
Join Date: Dec 2009
Posts: 3,465
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Quote:
You cannot say this stuff on fordrangerforums.com.au Ranger is our leader |
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#13 | ||
Bolt Nerd
![]() Join Date: Jan 2005
Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,616
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I can’t see the sky falling over this?
Even though there was $150,000 instant write off on business purchases (machinery etc) wasn’t there a cap of only $64,000 instant write-off on vehicles? And the instant write-off was only for small businesses with under 5 mill turnover? Just means small businesses can now only write off 1st 20k now, and depreciate the remainder over 4 years like most larger businesses?
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Current vehicles.. Yamaha Rhino UTV, SWB 4L TJ Jeep, and boring Lhd RAV4 Bionic BF F6... UPDATE: Replaced by Shiro White 370z 7A Roadster. SOLD Workhack: FG Silhouette XR50 Turbo ute (11.63@127.44mph) SOLD 2 wheels.. 2015 103ci HD Wideglide.. SOLD SOLD THE LOT, Voted with our feet and relocated to COSTA RICA for some Pura Vida! (Ex Blood Orange #023 FPV Pursuit owner ![]() |
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#14 | ||
Bolt Nerd
![]() Join Date: Jan 2005
Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,616
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Also it won’t affect business vehicle leases which are still fully deductible as far as I know?
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Current vehicles.. Yamaha Rhino UTV, SWB 4L TJ Jeep, and boring Lhd RAV4 Bionic BF F6... UPDATE: Replaced by Shiro White 370z 7A Roadster. SOLD Workhack: FG Silhouette XR50 Turbo ute (11.63@127.44mph) SOLD 2 wheels.. 2015 103ci HD Wideglide.. SOLD SOLD THE LOT, Voted with our feet and relocated to COSTA RICA for some Pura Vida! (Ex Blood Orange #023 FPV Pursuit owner ![]() |
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#15 | |||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: Catland
Posts: 3,618
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Quote:
(not against Ranger per se, just against market distorting that the tax rules created, now lessened). Boss seems to think it won't have much effect, probably as order books are full, but: 1)if you ordered one with the tax break in mind, and won't get it until after July 1, will you cancel your order? 2) new limit is 20K, does anyone have a ute under this price? A Chinese 4x2 perhaps? Young one heard the news (tradie) and said: why would they do this? This will affect dealers and everyone who works there. Why do it if you think a recession might be coming anyway? I'm a bit more of a cynic, I reckon the tax distortion is what has propelled the dual cab ute into its place as Australia's favourite car. We will see, it's combined with more car demand than supply currently, and in the background lots of builders falling over, low levels of construction loans, but a huge influx of migrants so demand for housing is being juiced... etc
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I6 + AWD |
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#16 | ||
FF.Com.Au Hardcore
Join Date: Dec 2009
Posts: 3,465
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Just trying to find that solid range behind Ranger
Everest Um Mustang Ev … nice prices .. any buyers? Mustang Escape no put a line through that Puma what’s that? Can’t get any stock |
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#17 | ||
Rob
Join Date: Sep 2006
Location: Woodcroft S.A.
Posts: 21,504
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Wow, the knives come out quick.
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UA2 TREND 4WD BI TURBO |
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#18 | ||
Bolt Nerd
![]() Join Date: Jan 2005
Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,616
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The massive attraction of a dual cab to a small business is it being classed a commercial vehicle… Fully claimable and relatively easy to get around FBT.
This drop from 150 k to 20k instant tax write-off per annum (remembering, even with the 150k, only 64k can be a vehicle!) won’t even put a dent in their sales! Most small businesses lease or finance their vehicle anyhow!
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Current vehicles.. Yamaha Rhino UTV, SWB 4L TJ Jeep, and boring Lhd RAV4 Bionic BF F6... UPDATE: Replaced by Shiro White 370z 7A Roadster. SOLD Workhack: FG Silhouette XR50 Turbo ute (11.63@127.44mph) SOLD 2 wheels.. 2015 103ci HD Wideglide.. SOLD SOLD THE LOT, Voted with our feet and relocated to COSTA RICA for some Pura Vida! (Ex Blood Orange #023 FPV Pursuit owner ![]() |
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#19 | |||
FF.Com.Au Hardcore
Join Date: Aug 2005
Location: Melb.
Posts: 4,439
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Quote:
as part of any purchase...it's all about cash flow to us...and getting stock without planning 10 years in advance... ![]() |
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#20 | |||
Peter Car
Join Date: Dec 2004
Location: geelong
Posts: 23,145
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Quote:
Dealers would be loving this change though, probably went out to the yard and threw 20k on top of the price of any of the scarce utes they have in stock. |
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#21 | ||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,559
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Accounting and ego aside you cant deny the fact that they are bloody handy, pretty much go anywhere, safe enough and dont use fuel like they used too. Why wouldnt you buy one if you could?
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#22 | ||
Peter Car
Join Date: Dec 2004
Location: geelong
Posts: 23,145
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It's that versatility that makes them so popular. No other vehicle you can buy can do all the things a ute can.
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#23 | ||
FF.Com.Au Hardcore
Join Date: Jun 2011
Location: Pt Lincoln far side South Oz
Posts: 5,764
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2 door ute bonus.... no room for mother in law.
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Dont p i s s off older people. At our age the term Life in Prison is not a deterrent |
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#24 | |||
Thailand Specials
Join Date: Aug 2009
Location: Centrefold Lounge
Posts: 49,028
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Quote:
Oh and if you get the one with four doors, people don't fit in the back of it comfortably and now you can't put anything decent in the back either. Although - the single cab ones, are great - the ones made in Australia ![]() Unfortunately most people can't afford the good ones with four doors, you know, the American ones. Last edited by Franco Cozzo; 11-05-2023 at 08:24 PM. |
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#25 | ||
Rob
Join Date: Sep 2006
Location: Woodcroft S.A.
Posts: 21,504
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I'm 188cm and fit comfortably in the back of a ranger...
And DCOA is hardly credible evidence...
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UA2 TREND 4WD BI TURBO |
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#26 | |||
Thailand Specials
Join Date: Aug 2009
Location: Centrefold Lounge
Posts: 49,028
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Quote:
![]() I bet you'd be a hell of a lot more comfortable in the back of the American one, and I note you didn't counter my point about the tub being useless ![]() Here's some non DCOA evidence for you: |
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#27 | ||
Limited supply
Join Date: Jun 2017
Posts: 1,441
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I'm not up with the car market, I hear as far as stock goes Toyota has auto single cab tray 4x4 available for a deal
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#28 | |||
Rob
Join Date: Sep 2006
Location: Woodcroft S.A.
Posts: 21,504
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Quote:
You could also say I'm one eyed ford, so also lack objectivity, which is likely true. Regardless, the market has spoken and the results speak for themselves. My next car will be a Ranger. The tub will be every bit as useful as the rear of the territory, it will tow my van better and get me around just fine.
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UA2 TREND 4WD BI TURBO |
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#29 | |||
Thailand Specials
Join Date: Aug 2009
Location: Centrefold Lounge
Posts: 49,028
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Quote:
Just because something is popular, doesn't mean its actually good ![]() The market has spoken about MDMA, cocaine and methamphetamines too, but I don't see you pushing for those. |
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#30 | ||
Rob
Join Date: Sep 2006
Location: Woodcroft S.A.
Posts: 21,504
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What year is your ute again?
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UA2 TREND 4WD BI TURBO |
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