FBT Exemption on Electric Vehicles #shorts

Claiming luxury cars can be a challenge, but with electric vehicles? You're in for an exciting exemption ride! 🚘

Here are FOUR things you should know so you can claim the exemption.

1- The car MUST be classified as a "zero or low emission vehicle." That means it should be either a battery electric car, a plug-in hybrid electric car, or a hydrogen fuel-cell electric car.

2 - The cost of the car must be below the luxury car tax threshold, currently set at $84,916.

3 - If you're looking to buy a second-hand electric car, make sure it was purchased after the 1st of July 2022, as electric cars used before that date are not eligible for the exemption.

4 - Not only can you claim back GST input credits, but you can also pass this benefit onto your employees, which will further reduce their tax liability.

Keep these four points in mind, and you'll be on your way to claiming your exemption with ease. 💰

#boxadvisory #luxurycars #electricvehicles #tax

Видео FBT Exemption on Electric Vehicles #shorts канала Davie Mach