using company car for private purposes

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using company car for private purposes


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Old 11-25-2014, 07:05 AM
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using company car for private purposes

Dear forum members,

I've been offered the job in Brisbane (A$130k) and a company car as part of the salary. Please, can you advise if it is worth to use it for private purposes and if so how much I'll need to pay?

Many thanks in advance
Slavek


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Old 11-25-2014, 07:44 AM
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I doubt the information published in this forum. There is a lot of scam around. Please be realistic when you want to migrate to Australia.


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Old 11-25-2014, 07:57 AM
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Quote:
Originally Posted by slavek View Post
Dear forum members,

I've been offered the job in Brisbane (A$130k) and a company car as part of the salary. Please, can you advise if it is worth to use it for private purposes and if so how much I'll need to pay?

Many thanks in advance
Slavek
Hi
If a company car is offered as a part of the salary then you pay nothing, however there may be some fringe benefit tax implications for you.

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Old 11-25-2014, 08:14 AM
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Originally Posted by consensual View Post
I doubt the information published in this forum. There is a lot of scam around. Please be realistic when you want to migrate to Australia.
Realistic about what?
Saying A$130k I mean 130000 Australian Dollars per year before Tax.
What have you understood?


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Old 11-25-2014, 08:16 AM
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Originally Posted by aussiesteve View Post
Hi
If a company car is offered as a part of the salary then you pay nothing, however there may be some fringe benefit tax implications for you.
This is what I am struggle with. How much is that and how to calculate it?

You see over here in the UK it;s quite easy to calculate and it make sense to have a company car where for instance in the Netherlands it is too expensive.


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Old 11-25-2014, 08:17 AM
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And one more thing because I'm getting confused - it you say you wage on the forum you say the figure before or after tax?


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Old 11-25-2014, 08:34 AM
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Originally Posted by slavek View Post
And one more thing because I'm getting confused - it you say you wage on the forum you say the figure before or after tax?
To answer the first question, the value of the vehicle may be taken into account when calculating your Medicare levy, which is only 2,% and I say maybe as depending on how the car is used in total will decide how much is deemed private use and therefore taxable.
All salaries in Australia are shown as before tax.
An important thing to find out is your employer sponsoring your visa or do you have to do that yourself.

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Last edited by aussiesteve; 11-25-2014 at 08:36 AM.

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Old 11-25-2014, 08:41 AM
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Originally Posted by aussiesteve View Post
An important thing to find out is your employer sponsoring your visa or do you have to do that yourself.
My current company is opening a new branch in Brisbane and the new branch will sponsor my 457 visa.

We did some calculations and we got to conclusion that A$130k + car sound fair. Do you agree?


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Old 11-25-2014, 09:14 AM
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My current company is opening a new branch in Brisbane and the new branch will sponsor my 457 visa.

We did some calculations and we got to conclusion that A$130k + car sound fair. Do you agree?
It all depends on what the job is and hours etc. Also does it include Super? Some salaries will include salaries and some will not.

The ATO considers the vehicle for private use if it is garaged and your house overnight and is subject to FBT. However, most employers will have taken this into account and reduced your package by that amount. It is always best to check with your employer.


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Old 11-25-2014, 09:42 AM
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It will include super. I'll work from home office for start and then we will setup the proper office. I'm computer programmer but part of my duties will be to deal with key customers


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