If you’re like most small Business Owners or solo operators, the thought of how to register your vehicle as commercial, or private, may seem confusing. What are the pro’s & cons of decision?
It may seem “easier” to simply register your vehicle as it’s always been – privately. However, there may be advantages to registering it for business use. Here are some of the advantages and other considerations to weigh up.
Purchasing a motor vehicle
If you use a motor vehicle solely in carrying on your business and you’re registered for GST, you’re generally entitled to claim a GST credit for the GST included in the price of the vehicle, provided you have a tax invoice.
If you use a motor vehicle partly in your business, you’re generally entitled to claim a partial GST credit based on how much you use the motor vehicle in carrying on your business.
There can be some “complicated” calculations, however this is not for you to worry about – we help sort these when customers purchase vehicles from us.
For full details – visit the ATO website.
By having your vehicle commercially registered, you can use commercial loading zones.
Loading zone signs may have 15, 30 minute or hourly time limits. Where no time limit is displayed, a default time limit of 30 minutes applies. Loading zones can only be used while loading or unloading. However, under no circumstances can the time limit be exceeded.
However, there are a number of rules and regulations to follow. Placing parking information into one small street sign is impossible. Before you use these area, you need to know if you can use them, and the time restrictions that apply.
Full detail, visit the Vic Roads website.