Tax Deductions

[derekjay]

Alternatively, depending on the tax-efficiency thereof, you may want to have the company pay "Right Of Use Of Motorvehicle" - this is a tax amount paid based on the value of the car, which allows you to make all vehicle related expenses from the company (petrol, servicing, repairs, etc). May be worth consulting your accountant.

[Dave A]

Structure your pay package to include a car allowance that covers the bills and keep a log book.

For the cellphone, I recommend you get the account changed into the CC's name.

[AmithS]

Hi,

Seperate legal entity, CC.

Thanks

[Dave A]

Are you trading as a sole proprietor or is the business a seperate legal entity?

[AmithS]

Hello All,

With regards to tax deductions\expenses of a business.

As I am just starting out I have my car in my name and the insurance policies for them as well as my cellphone accounts, etc...

As I will be using my car and cellphone for business can these be deducted as expenses even if they not on the business name ?

Thanks in advance