With the end of the financial year just around the corner AADA and BDO Automotive take this opportunity to remind you about a number of tax matters that may be worth considering before 30 June.
BDO has produced a 2017 Automotive Tax Planning report covers a range of traditional motor industry tax considerations such as vehicle valuations, as well as broader tax matters such as depreciation deductions.
This update may also prompt you to think about tax planning for small business entities given the extension to 30 June 2018 of the $20,000 instant asset write off, and the change in tax rate which will have an impact on franked dividends.
The Automotive Tax Planning Report can be viewed here.
Chief Executive Officer
Australian Automotive Dealer Association Ltd