Episode Details

This is a special cross-posted episode of The Australian Investors Podcast - it comes directly from The Australian Business Podcast, Owen's favourite new series on starting, buying, owning and scaling private businesses.

About this episode

Danil just had a baby (congrats!), Jordan just bought a Tesla, and Owen... also placed an order for a Tesla (even though he LOVES his banged-up old Subaru).

Almost every person or business owns a vehicle for business and private use. And too many think a car is 100% tax deductible - which is not often the right answer.

In this episode, Owen, Danil and Jordan explain:

• How to work out if your car is tax deductible
• Why does it make sense to buy a base model Tesla with ATO rules? (Check Luxury Car Tax)
• What does Fringe Benefits Tax (FBT) means and how to calculate it
• How to calculate depreciation on your car using the logbook
• How to do a logbook and remind yourself
• How much can tradies claim on their car?
• Can office workers claim the cost of a car?

Subscribe to the Australian Business Podcast:

⁠Apple podcasts⁠: https://podcasts.apple.com/au/podcast/australian-business-podcast/id1551250845

⁠Spotify⁠: https://open.spotify.com/show/3044vSU0er64EdV1e4Pzrc

⁠Google Podcasts⁠: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5tZWdhcGhvbmUuZm0vYXVzdHJhbGlhbi1idXNpbmVzcy1wb2RjYXN0

⁠Other channels⁠: https://www.raskmedia.com.au/podcasts/australian-business-podcast/

~~ Resources ~~

ATO page on electric vehicles: https://www.ato.gov.au/Business/Fringe-benefits-tax/Types-of-fringe-benefits/fbt-on-cars,-other-vehicles,-parking-and-tolls/electric-cars-exemption/

Ask a question: https://bit.ly/3QtiY00

Grey Space website: http://bit.ly/3DG5lWS

Free business course: https://bit.ly/rask-biz-course

Owen Rask's business coaching (beta): https://bit.ly/coach-owen

This Australian Business Podcast Episode is for founders, business owners and investors in private companies.

Join 2,300+ students in our free business course!

If you liked this episode, don’t forget to consider taking our free business course and tuning into the Australian Business Podcast episode one, in which I shared my journey.

Love the Australian Business Podcast? Let me know about it by leaving a review on Apple or Spotify. 

If you want to help me out with the course, right now the best thing you can do is subscribe and review this podcast in Apple or Spotify. Please use the “Ask a question” menu link on the Rask websites, or leave your questions in the Apple Reviews.

✅ Grey Space Advisory – accounting today for a smarter tomorrow

Do you get stuck worrying ab